Northern Data AG / Key word(s): Financing
02-Nov-2023 / 00:38 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014
Northern Data AG secures EUR 575 million debt financing facility to drive further investments across its three business lines
Frankfurt am Main, 2 November 2023 – Today, Northern Data AG (ISIN: DE000A0SMU87, the “Company”, and, together with its subsidiaries, “Northern Data Group” or the “Group”) entered into a loan agreement with a company of the Tether Group, under which it secured a EUR 575 million debt financing facility. The facility is unsecured, at standard market conditions and has a term until 1 January 2030. It will enable Northern Data Group to make further investments across its three business lines Taiga Cloud, Ardent Data Centers and Peak Mining.
The focus of these investments will be on the acquisition of additional sophisticated hardware allowing Northern Data Group’s Taiga Cloud business to further expand its offering as a Generative Artificial Intelligence Cloud Service Provider in Europe.
The new financing is also intended to be used to expand Northern Data Group’s portfolio of data centers through Ardent Data Centers, the Group’s data center infrastructure business, and enhance the Group’s existing operations.
Finally, the Company intends to use the financing to further scale its Bitcoin mining operations with purpose-built, liquid-cooling mining technology through the Group’s mining business, Peak Mining.
End of Inside Information
|Company:||Northern Data AG|
|An der Welle 3|
|Phone:||+49 69 34 87 52 25|
|Listed:||Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Hamburg, Hanover, Munich (m:access), Stuttgart, Tradegate Exchange|
|EQS News ID:||1760899|
|End of Announcement||EQS News Service|
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