Reykjavik, Iceland - Borealis Data Center, which is 92.2% owned by Vauban Infrastructure Partners, a leading European Infrastructure Asset manager, through its Fund Core Infrastructure Fund III SCS SICAV-SIF, has announced the successful financing of the Company. With Pareto Securities acting as the financial advisor, the financing was carried out with Infranity, a French infrastructure investment firm and Iceland’s Arion Bank for a total financing commitment of $148 million USD to support Borealis Data Center’s ambitious expansion plans in the Nordics. Infranity has provided $135 million USD term loans, while Arion Bank has contributed $13 million USD RCF and VAT facility. 
 
“Our strategy for growth is rooted in delivering exceptional value to our customers while attracting those with increasingly sophisticated requirements,” said Björn Brynjúlfsson, CEO and cofounder of Borealis Data Center. “As the industry evolves rapidly, we are committed to staying ahead of future demands and enabling our facilities to meet the needs of the most advanced workloads in a sustainable manner. Beyond a vote of confidence, the financing from Infranity and Arion enables us to further accelerate this strategy and advance our capabilities.” 

Founded in 2014, Borealis Data Center operates three, sustainable data center campuses in Iceland and one campus in Kajaani, Finland, all of which presenting very competitive PUEs. Proceeds will fund expansion plans for the company’s campuses, in Iceland and Finland and enable the company to continue to support and attract AI and high-performance computing customers, including supercomputers, who value access to renewable energy and efficient operations 
 
“We are excited to partner with BDC, a leading developer, owner and operator of sustainable data centers in the Nordics. This transaction not only underscores our commitment to supporting and financing essential digital infrastructure, but also reflects our thesis around long-term, resilient investments in companies and assets that drive both technological advancement and sustainable stewardship” said Georgios Tzimas, Investment Director, Infranity.  

Infranity operates around a disciplined model focused on infrastructure debt and equity investments that generate sustainable financial and non-financial returns with a positive, stable and long-term impact.  
 
“As Borealis Data Center´s longstanding corporate banking partner, we are delighted to support the company in its growth. We see tremendous opportunities in the data center market, both in Iceland and internationally. Borealis is now taking significant steps to expand and develop its business model, and we are proud to be part of this journey” said Hákon Hrafn Gröndal, Managing Director of Corporate & Investment Bank of Arion bank. 

French investment fund Vauban Infrastructure Partners acquired a majority stake in Borealis Data Center in July 2021 and remains active in the development of the company. Vauban’s investments in digital infrastructure assets, such as Borealis Data Center, that provide essential services to communities while ensuring the sustainability of those investments. 
 
“This financing is a testimony to the fruitful partnership between Vauban and Borealis and to the effective growth strategy that the company has adopted. We are delighted to have supported and to continue contributing to this development of Borealis.”” said Sam Léa Zhang, Investment Director, Vauban and Borealis Data Center Board Chair.  

About Infranity 
Headquartered in Paris, Infranity manages over €9.2 billion AUM in Europe and internationally on behalf of institutional investors. Infranity operates around a disciplined model focused on infrastructure debt and equity investments that generate sustainable financial and non-financial returns with a positive, stable and long-term impact. Infranity is the strategic partner of the Generali Group for infrastructure investments. 

About Arion Bank 

Arion Bank and its subsidiaries provide comprehensive financial services to those who want to achieve success in Iceland and the Arctic through smart and reliable financial solutions which enhance financial health and create sustainable value. Arion Bank places great importance on developing long-term relationships with its clients and is a market leader as a provider of cutting-edge and modern banking services. Arion Bank provides services to individuals, corporates and investors in three business segments: Retail Banking, Corporate & Investment Banking, and Markets.The service offering is further augmented by the subsidiaries Stefnir and Vördur. 

About Vauban Infrastructure Partners  

Vauban Infrastructure Partners is a leading infrastructure asset manager focused on the core infrastructure market. Headquartered in Paris with an office in Munich and subsidiaries in Luxembourg and New-York, it employs c. 80 professionals, the majority of whom have been working together for over a decade. Vauban targets predominantly European brownfield mid-market assets pursuing a long-term yield-driven strategy matching the underlying nature of assets and long-term commitment to all stakeholders’ interests through a strong focus on creating sustainable value. Vauban has raised c. €10 billion across 8 funds in infrastructure from over 150 investors across 17 different countries and has invested in over 80 assets in mobility, energy transition, social & digital infrastructure across 14 different geographies. https://vauban-ip.com/ 

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