New Era Energy & Digital

New Era Energy & Digital closed a $115M public equity offering and received a $20M initial tranche of a $290M senior secured credit facility from Macquarie Group. Macquarie also made a $5M equity investment in the company. The $140M in combined funding will advance the multi-phase Texas Critical Data Centers (TCDC) project, an AI and high-performance computing campus in Ector County, Texas. Credit facility proceeds will support procurement of long-lead equipment and site work. Northland Capital Markets served as lead book-running manager. GCs and vendors should monitor upcoming procurement activity for this Permian Basin campus.

New Era Energy & Digital has secured $290M in financing for a data center project in Texas. The funding will support the development of a new data center facility in the state. Specific capacity and timeline details were not disclosed. Texas continues to attract significant data center investment due to favorable energy and regulatory conditions. GCs, mechanical/electrical subs, and infrastructure vendors should monitor this project for upcoming procurement opportunities.

New Era Energy & Digital, through subsidiary Texas Critical Data Centers, closed a senior secured term loan credit facility of up to $290 million with Macquarie Group's commodities and global markets division. The multi-tranche facility includes a $20M committed term loan, $30M and $40M subsequent tranches, and a $200M delayed draw term loan, all maturing in three years. Proceeds fund acquisition, improvement, and equipping of properties for TCDC's flagship project in the Permian Basin, TX. Macquarie will also purchase $5M in common stock and warrants for up to $5M additional shares. Vinson & Elkins and Latham & Watkins served as legal counsel.