European data center firm AtlasEdge has secured €1.2 billion ($1.39bn) in new financing.

Announced this week, the seven-year facility provides €738 million ($857m) in committed debt financing and a further €500m ($580.6m) uncommitted accordion.

The company said the transaction is the largest in its history and will be used to accelerate its European expansion, including developments in Germany, Austria, and Iberia.

Backers of the oversubscribed facility include new and existing lenders, including ABN Amro, Alpha, BBVA, Goldman Sachs, ING, Investec, KfW, Mizuho, MUFG, National Westminster Bank Plc, NordLB, Rabobank, and UniCredit Bank AG. The facility was oversubscribed, reflecting strong lender appetite for the Company’s disciplined growth strategy.

“This €1.2 billion facility is a landmark moment for AtlasEdge and a compelling endorsement of our strategy, the quality of our portfolio, and the disciplined way we deploy capital,” commented Jonathan Hoo, CFO, AtlasEdge. “That the facility attracted strong demand from both existing and new lenders reflects real conviction in our business model. It provides us with the financial strength to accelerate investment with confidence across our core markets through responsible, capital-efficient growth.”

AtlasEdge secured a €725m ($841m) facility in 2022 and another €253m ($293m) facility last year for its Lisbon campus.

Formed as a joint venture between telecoms company Liberty Global and digital infrastructure fund DigitalBridge in 2021, AtlasEdge operates regional data centers across Europe. Digital Realty has also invested in the company.

The deal brought together DigitalBridge’s Edge assets and Liberty Global’s real estate portfolio, with several of Liberty’s telecoms companies as anchor tenants. The company has acquired a number of data centers across Europe over the years, and recently divested nine facilities to European operator Templus.