By William Gullotti
Buffalo, N.Y., Dec. 19 – Brazil’s Scala Data Centers sold R$2 billion of five-year green debentures, according to a press release on Monday.
The issuance is the largest ever carried out in Brazil as well as the first of its kind in the country’s data sector.
Banco Bradesco BBI, Itau BBA, UBS BB, Santander Bank (Brazil), MUFG and Deutsche Bank SA Brazil were the coordinators for the offering, with Banco Bradesco as the lead.
According to the release, Scala was able to issue green debentures instead of sustainability-linked bonds due to its existing sustainable projects and initiatives.
Proceeds from the offering will be used to finance Scala's expansion plan, which is already underway and 100% driven by sustainable initiatives.
“Our successful green debentures offering reflects the confidence of investors and the market in our clean data center expansion plan. ... These green proceeds will be a new source of capital to fund our data centers, which are currently under construction, and support our bold growth plan for Brazil and Latin America in the coming years,” said Marcos Peigo, chief executive officer and co-founder of Scala, in the release.
“We already use 100% renewable and certified energy in our operations, neutralize our carbon emissions and promote professional and educational qualification initiatives in the communities where we operate.”
Brazil-based Scala was founded by DigitalBridge and provides sustainable data centers.
| Issuer: | Scala Data Centers
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| Amount: | R$2 billion
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| Issue: | Green debentures
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| Tenor: | Five years
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| Coordinators: | Banco Bradesco BBI (lead), Itau BBA, UBS BB, Santander Bank (Brazil), MUFG and Deutsche Bank SA Brazil
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| Announcement date: | Dec. 19
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