Vantage Data Centers seeks $2B in loans from Pimco, PGIM as AI infrastructure financing boom accelerates

Vantage Data Centers is in discussions with Pimco and PGIM to secure roughly $2 billion in new loans, the latest in a string of massive financing rounds fueling the company’s bet on AI and cloud infrastructure demand.

The deal would deepen an existing relationship between Vantage and Pimco, which participated in a $3 billion revolving credit facility consortium backing the data center operator in 2024. PGIM, the investment management arm of Prudential Financial, would bring another heavyweight balance sheet to the table.

A company that treats debt markets like a buffet

In February 2026, Ares Management led a $2.4 billion refinancing deal for the company. And in June 2025, Vantage closed a $5 billion green loan package to support its New Albany campus and existing facilities.

Vantage operates 17 campuses across North America with over 4 gigawatts of IT load capacity. The company leases them out under long-term contracts to hyperscale clients who need the infrastructure for cloud services and AI workloads.

Vantage is backed by DigitalBridge, the infrastructure-focused investment firm that is set to be acquired by SoftBank for approximately $3 billion.

Why lenders can’t get enough of data centers

For lenders like Pimco and PGIM, data center assets create an attractive risk profile. The underlying assets are physical, the tenants are typically investment-grade corporations, and the revenue streams are predictable.

Ares Management’s involvement in Vantage’s February refinancing is one example of how private credit firms have moved aggressively into the space.

The competitive landscape is getting crowded

What separates Vantage from some of its publicly traded peers is its status as a private company, which gives it more flexibility in how it structures financing but also means it relies more heavily on the debt markets rather than stock issuance to fund expansion.

The green loan structure Vantage used for its $5 billion 2025 deal signals an effort to align with ESG-conscious capital pools, broadening the universe of potential investors willing to participate in future rounds.

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