Swedish data center firm Conapto has completed the issuance of senior secured bonds worth SEK 500m ($52m).

Issued “under a framework of up to SEK 1bn ($104m),” the bonds have an interest rate of 5.75 percent per annum, in addition to a floating interest determined by the three-month Stockholm Interbank Offered Rate. They have a tenure of three years.

The bonds will be used to restructure existing debt and to support investments in Conapto’s fourth data center, Stockholm 4 South. Details of those investments were not provided.

The facility, which opened in July 2024, spans 8,000 sqm (86,000 sq ft) and has 20MW of capacity. It was financed by SEK 400m ($39m) of debt.

Bond issuance was arranged by ABD Sundal Collier, a Norwegian investment bank.

Hakan Bjorklund, CEO of Conapto, said: “The successful issuance of our first bond is a significant milestone for Conapto. The demand for our services and our data centers is strong and constantly increasing and this bond financing will facilitate further growth for Conapto.”

The Swedish colo provider currently presides over 31MW of total capacity split across four data centers. All are located in Stockholm, which is where most data centers in Sweden are housed. It was acquired by European investment fund Marguerite in 2021.

Sweden has seen an influx of interest from businesses across the data center supply chain. Just yesterday, Nvidia announced its partnership with the Swedish Business Consortium for a GB300 supercomputer, and earlier this month, Microsoft extended a carbon removal energy for bio-energy with carbon capture and storage firm Stockholm Exergi.