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Virtus Data Centres Secures £2.45bn Financing to Fund UK and European Data Center Expansion

By: IDCNOVARegion: Europe
European data center operator Virtus Data Centres has completed a £2.45 billion ($3.25 billion) financing package, one of the largest bank financings ever closed for a data center company in the United Kingdom, as it moves to accelerate development across its home market and continental Europe.

The financing was provided by a consortium of 13 banks, with BNP Paribas, Crédit Agricole CIB, Société Générale, and Standard Chartered Bank serving as coordinators, senior mandated lead arrangers, and bookrunners. The package includes a £1.2 billion ($1.6 billion) green capital expenditure facility available through both term and revolving tranches, underscoring the growing role of sustainable finance in the data center sector.

The capital will provide long-term funding to support the continued development and expansion of data centers across the UK and Europe, including Virtus's 78MW Saunderton campus in Buckinghamshire and future investment in London19 in Slough. The company currently operates 14 data centers across four campuses in Greater London and a fifth in Buckinghamshire, and has additional projects in development in Germany and Italy.

Adam Eaton, CEO of Virtus, said the financing marks an important milestone for the company and reflects the strength and stability of its existing portfolio, its track record of delivery, and the opportunities ahead. He added that the capital flexibility it provides will enable Virtus to continue investing in high-quality data center infrastructure and support its ongoing growth across the European market.

Virtus was advised by Simmons & Simmons, while the financing consortium was advised by Clifford Chance. The company was made a wholly-owned subsidiary of STT GDC, now STTGDC, in 2017, and Macquarie Asset Management acquired a 40 percent stake in the UK operator in 2023.

The deal highlights the intensifying race to fund data center capacity across Europe, where demand from cloud providers and AI workloads continues to outstrip supply. Securing long-term debt at this scale positions Virtus to advance its pipeline at a time when access to capital and power has become a defining competitive advantage in the sector.