AdaniConneX is in talks with a group of global lenders to raise as much as $400 million via an offshore loan, which may be the company’s second such transaction since June 2023. As per industry sources, the company will use the money to fund its growth plans in 2024, with a five-year tenor under discussion.
Earlier in June 2023, AdaniConneX raised $213 million in debt to build two data centres with a total capacity of 67 MW. The investment was part of the Adani Group’s plan to spend nearly $1.5 billion on its data centre business in the next three years. The company is planning to build nine data centres and target a total capacity of 1 GW by 2030.
