Oaktree-Backed Pure DC Secures $780 Million Debt Facility, Expandable to $1.9 Billion

In its own announcement, the company described the deal as a Platform Growth Facility. The $1.1 billion option takes the form of an accordion, giving it a framework to expand financing to about $1.9 billion. According to the announcement, Citigroup Global Markets, First Abu Dhabi Bank and Infranity are new lenders. They join existing backers ABN AMRO, Allianz Global Investors and SMBC.

Interim chief executive Gary Wojtaszek told Bloomberg the money would go toward land, energy supply for future data centres and general corporate purposes across Europe and the Middle East. The terms of the expansion option were not disclosed.

The facility is Pure DC's third financing announcement this year. In May the company announced $2.7 billion of financing for AI infrastructure in Europe and the Middle East. That package included a $2.15 billion facility secured against its Dublin and Amsterdam operations. In July it announced a further €1.3 billion for a large European AI campus. The company has not said how the November facility relates to the earlier packages.

Pure DC has a data centre campus in Abu Dhabi, which Data Center Dynamics has reported the company plans to expand. FAB's participation gives the deal a direct UAE banking link. The facility is aimed at land and power, which are now often the main limits on how fast new AI capacity can be built in both regions.

The raise comes during a week of large AI infrastructure financings and growing investor debate over how much AI spending markets can absorb. Lending to developers that control land and grid connections has become one of the main ways that capital reaches the build-out.