Frankfurt-based data centre operator Maincubes has put in place €2.47 billion ( US$2.85 billion ) in financing to strengthen its long-term capital base and support the next growth phase of its European portfolio.

The financing comprises €1.77 billion in credit lines and a €700 million accordion facility, provided by a consortium of 11 banks and an institutional fund.

Maincubes was advised by RBC Capital Markets and A&O Shearman. The lenders were advised by Hogan Lovells. The largest single lender is MUFG, which acted as the mandated lead arranger. Other syndicate members are NordLB and UniCredit.

Proceeds will be used to refinance Maincubes‘ existing portfolio and finance new data centre projects. The company serves a broadly diversified clientele, including public sector entities and global hyperscalers.

Says founder and CEO Oliver Menzel: "This financing is an important milestone for Maincubes. It provides us with the financial strength to drive our growth and implement large-scale projects. At the same time, it confirms our position as a leading German data centre operator for cloud and AI workloads – for both international customers and the public sector."

The transaction will support, among other things, the construction of a fourth Frankfurt data centre ( FRA04 ), the development of the Berlin mainHub campus with a 200-megawatt capacity plus expansion options, and the further expansion of existing sites.

With a platform of around 400MW, Maincubes is now one of the largest and fastest-growing data centre operators in Germany.

“This financing increases Maincubes’ financial flexibility and underscores its long-term growth. The broad support confirms the positive development and future prospects of the company,” says Tim Hofmann, principal at investment manager DTCP, which owns a majority stake in Maincubes.