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Teraco concludes funding round for new DC construction with R2.5 billion

Late last year Teraco announced it would be constructing a new data centre in Ekurhuleni.

In order to continue construction on the 38MW hyperscale data centre, Teraco recently concluded a loan financing transaction worth R2.5 billion. This cash flow injection coupled with cash coming from within the business will be used to finance the construction and completion of the data centret.

The transaction involved a number of “large institutions” though Teraco only highlights Absa in a press statement about the finance.

“Absa has continued along the growth path with Teraco. Their understanding of our business model and funding requirements and ability to offer tailored funding solutions to suit our needs has contributed to Teraco’s success,” newly appointed chief financial officer at Teraco, Samuel Erwin said in a statement.

The data centre will be known as JB4 and it is expected to be complete by the first quarter of 2020. Upon completion JB4 will be the largest data centre in Africa according to Teraco.

“Teraco continues to invest significantly into the region’s ICT infrastructure and has built what is now Africa’s largest data centre platform. We take pride in our vendor-neutral offering, enabling open access to interconnection and world-class resilient data centre infrastructure for all our clients,” Teraco chief executive officer, Jan Hnizdo said when the project broke ground in 2020.

Once complete JB4 will span 50 000 square metres and will meet global hyperscale requirements. Teraco says it will also augment the existing portfolio of ISO9001, ISO27001, PCI-DSS and ISAE3402 certified data centre facilities.

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