Sumitomo Mitsui finances EdgeConneX data center in Chile
February, 2021 - Santiago, Chile
US company gets financing for data centre in Chile
Fredrik Karlsson
Japanese bank Sumitomo Mitsui has hired Chile’s Carey to provide a loan to the local subsidiary of US data centre provider EdgeConneX to fund the development of a data centre in Santiago.
EdgeConneX is understood to have relied on local firm Baraona Fischer y Cía, but this could not be confirmed prior to publication. The amount of the loan was not revealed.
The partners of Baraona Fischer have gone their separate ways since the completion of the transaction. Six partners departed to launch Fischer y Cía on 15 January, while the remaining part of the firm rebranded to Baraona Marshall & Cía. In addition, one of the firm’s partners – Alfonso Ugarte – who is understood to have been one of its lead lawyers on the deal, left for Cuatrecasas in Chile shortly after the transaction.
The financing, which closed on 23 December, is understood to be one of the first loans for a data centre in Chile.
EdgeConneX announced the opening of the Santiago-based data centre on 19 January. US software company Oracle will use the centre to provide cloud infrastructure services to local businesses and companies across Latin America.
EdgeConneX is planning to develop a second data centre to meet growing demand.
With its Chilean opening, EdgeConneX is now present across 33 countries worldwide. Elsewhere in Latin America, it also has operations in Buenos Aires.
Counsel to Sumitomo Mitsui Banking Corporation
Carey
Partners Felipe Moro and Juan Pablo Stitchkin, and associates Carlo Benussi, Daniela Soto, Diego Lasagna, Elías Mohor, Fernanda Valdés, Fernando Noriega, Francisca Hernández, Francisco León, Javiera Muñoz, Loreto Ribera, Manuel José Barros, María José Martínez, Nadia Jara, Rafael Mackay, Ricardo Edwards and Tamara Feliú
