Loan & DebtApr 8, 2026, 04:17 PM
New ERA Energy & Digital Subsidiary Secures Up to $290 Million Senior Secured Term Loan Facility
AI Summary
New ERA Energy & Digital, Inc.'s subsidiary, Texas Critical Data Centers LLC, has entered into a Term Loan Agreement with Macquarie Equipment Capital Inc. for a senior secured term loan credit facility of up to $290 million. This facility, maturing on April 8, 2029, provides significant capital, with an initial committed $20 million and additional tranches totaling $270 million available at the lender's discretion. The funding is crucial for the company's operational and expansion needs, particularly in its data center business, and comes with varying interest rates and a multiple on invested capital premium.
Key Highlights
- New ERA Energy & Digital, Inc.'s subsidiary, Texas Critical Data Centers LLC, secured a senior secured term loan credit facility of up to $290,000,000 from Macquarie Equipment Capital Inc.
- The facility is structured into four tranches: a $20,000,000 committed Term Loan A-1, a $30,000,000 Term Loan A-2, a $40,000,000 Term Loan A-3, and a $200,000,000 Delayed Draw Term Loan.
- The Term Loan A-2, Term Loan A-3, and Delayed Draw Term Loan tranches are available solely at the discretion of the Lender and subject to specific conditions precedent.
- The loans mature on April 8, 2029, bearing interest at Term SOFR plus an Applicable Rate of 5.50% per annum for Term Loan A-1 and A-2, and 7.75% per annum for Term Loan A-3 and the Delayed Draw Term Loan.
- A Multiple on Invested Capital (MOIC) premium applies, requiring an amount sufficient to achieve a MOIC of 1.35 to 1.00 for repayments of First Stage Loans if no Second Stage Loan has been funded.