Atlas Energy Solutions closes $424M bridge facility for data center power

Atlas Energy Solutions Inc. (NYSE: AESI) has closed a $424 million senior secured bridge facility provided by Goldman Sachs and Barclays to fund power generation and balance-of-plant equipment purchases for two data center projects.

The facility, structured as a delayed draw term loan, is backed by two cost reimbursement agreements announced previously on September 25, 2026. Atlas drew $171 million at closing and expects to draw the remainder as equipment payments come due. First power for both projects is expected in late 2027.

The loan carries an initial maturity of 180 days, with an option to extend for an additional 184 days upon consummation of energy supply agreements, lender consent, and other conditions. Interest accrues at the Adjusted Term SOFR Rate plus 2.50%, increasing by 0.50% six months after signing. Atlas can also request incremental commitments of up to $286 million, subject to lender consent and other conditions.

"This facility enables us to de-risk the supply chain by ordering long lead-time items well in advance of commissioning while we work towards final agreements with our customer and the other related counterparties," said John Turner, President and Chief Executive Officer of Atlas. "Most of the project spending comes after those are signed and construction has begun, and we'll fund it with long-term financing backed by each project's contracted cash flows."

You May Also Be Interested In

• Microsoft to offer buyouts to 60,000 workers in cost-cutting move - Bloomberg
• SpaceX confirms $40 billion GPU lease with Apollo Global
• Royal Caribbean (RCL) call put ratio 2.1s call to 1 put into quarter results