Rowan Digital Infrastructure Secures $1.5 Billion in New Corporate Financing For Its Hyperscale Development Platform

• $600 million term loan upsize led by Apterra Infrastructure Capital and new $590 million revolving credit facility and $355 million letter of credit facility led by Citibank, N.A. provide Rowan with flexible, parent-level capital to accelerate its 5.5 GW pipeline

DENVER--(BUSINESS WIRE)--Rowan Digital Infrastructure ("Rowan"), one of the fastest-growing developers of sustainable hyperscale data center campuses in the United States, today announced corporate-level financings that add more than $1.5 billion in new capital capacity: a $600 million upsize of its holding company term loan led by Apterra Infrastructure Capital together with a new $590 million revolving credit facility and a new $355 million letter of credit facility, each led by Citibank, N.A.

Each of these facilities bolster Rowan’s corporate-level financing capacity and are available for general pipeline development purposes. Together they give Rowan more flexible capital to move quickly through the earliest stages of project development, from securing land and power to ordering long-lead equipment, across the company’s 5.5 GW project pipeline spanning multiple U.S. markets.

The lender group for the revolving credit facility and letter of credit facility includes Citibank, N.A., Mizuho Bank, Ltd., MUFG Bank, Ltd., Goldman Sachs Bank USA, Societe Generale, Sumitomo Mitsui Banking Corporation, and Huntington National Bank. The syndicate features many of the world's largest banks, further demonstrating the confidence leading lenders have in Rowan's platform and its ability to deliver at scale. SMBC, Mizuho, and MUFG also helped lead Rowan's $2.9 billion Temple 1 financing earlier this year. With these latest transactions, Rowan has raised more than $8 billion in financings from more than 40 lenders over the past 18 months, support that will help the company accelerate its development pipeline and bring capacity to its hyperscale customers faster.

“Rowan has been built on the thesis that speed to power and deep community engagement will define the next era of digital infrastructure," said Charley Daitch, CEO of Rowan Digital Infrastructure. "With more than 1.2 GW already contracted to world-class technology leaders, Rowan maintains an expansive portfolio of strategic locations to continuously scale support for our hyperscale partners. Securing corporate financing from banks of this caliber is a milestone in Rowan's growth and a reflection of the team and platform we've built.”

The financings at a glance

• $600 million holding company term loan upsize: Rowan expanded the corporate credit facility it closed in September 2025 with Apterra Infrastructure Capital to $900 million, which was originally a $300 million term loan and letter of credit facility for early-stage development.
• New $945 million revolving credit facility and letter of credit facility: The financing features a $590 million revolving credit line, providing on-demand liquidity that Rowan can draw, repay and redraw as its development pipeline grows, without returning to market for each new site. The financing also provides a dedicated $355 million letter of credit facility, allowing Rowan to meet collateral requirements tied to site development, such as utility interconnection deposits and obligations to equipment vendors, without posting cash. The facilities are structured to scale alongside Rowan, with an accordion feature under which Rowan may increase the total borrowing availability of the revolving credit facility to up to $2 billion and the letter of credit facility to up to $1 billion, subject to certain terms and conditions.
• Lead lenders: Citibank, N.A. served as lead left arranger and administrative agent on the revolving credit facility and letter of credit facility, and Apterra Infrastructure Capital served as lead arranger on the term loan upsize.

“Rowan has set a high bar in hyperscale data center development, and we are pleased to build on our relationship through this financing,” said Ralph Cho and Michael Pantelogianis, Co-CEOs of Apterra. “Demand for digital infrastructure financing continues to accelerate, and Apterra is well positioned to support leading developers as they scale.”

“Citi is honored to serve as left lead arranger, bookrunner and administrative agent on Rowan’s inaugural syndicated corporate credit facilities, a milestone in the company’s evolution that provides scalable relationship capital to support future growth,” said Saad Zaman, Managing Director at Citibank, N.A.

Simpson Thacher & Bartlett LLP served as legal counsel to Rowan for the revolver and letter of credit facility, while the lenders were represented by Dechert LLP. For the term loan, Rowan was represented by Kirkland & Ellis LLP and Milbank LLP advised the lender group.

Building on momentum

These latest financings follow a series of project-level milestones for Rowan, including nearly $3 billion secured in May 2026 for its 300 MW Temple campus, the largest financing in the company's history and completed under Rowan's Green Finance Framework; $550 million in construction financing for its 300 MW Cinco campus in Medina County, Texas, in February 2026; and $925 million for Bauxite Phase III in Frederick County, Maryland, the first issuance under the framework, which is rated "Strong" by Morningstar Sustainalytics. Rowan has now secured $4.4 billion under its Green Finance Framework across three projects.

About Rowan Digital Infrastructure

Rowan Digital Infrastructure develops sustainable data center campuses for hyperscale customers, offering build-to-suit solutions that enable rapid and cost-effective scaling. Founded in November 2020, Rowan is supported by strong capital partnerships and a team of industry veterans. Rowan is backed by Quinbrook, a leading investor in the energy and digital transitions, and Blackstone, the world’s largest alternative asset manager. Rowan is actively developing multiple 300 MW–1+ GW campuses across the U.S. to meet the next-generation capacity needs of hyperscale operators in a dynamic market. Learn more at www.rowan.com.