Rowan Digital Adds $1.5 Billion in Financing

Rowan Digital Infrastructure's new facilities expand its capacity to fund a 5.5-gigawatt U.S. data center pipeline.

Updated on Nov. 12, 2026 in Data Centers

Bold flat-color editorial illustration of stacked copper power cable spools beside a grey transformer on a concrete pad, in deep red and cream. — Rowan Digital Infrastructure secured more than $1.5 billion in new financing, including a $600 million term loan increase led by Apterra Infrastructure Capital and a $355 million letter of credit facility led by Citibank. AI Illustration. Upload story photo >

Live Poll

Should your state limit new data center construction in your community?

Rowan Digital Infrastructure announced new corporate financings adding more than $1.5 billion in capital capacity. The package includes a $600 million term loan increase led by Apterra Infrastructure Capital, along with a $590 million revolving credit facility and a $355 million letter of credit facility led by Citibank.

Why it matters

The letter of credit facility allows the company to meet collateral requirements without posting cash, and the facilities can be drawn to advance projects from site and power acquisition through orders for long-lead equipment. The financing was completed before the U.S. midterm elections.

Rowan's pipeline totals 5.5 gigawatts across multiple U.S. markets, with more than 1.2 GW of that capacity contracted to technology customers. The company has projects in Texas, Maryland and Oregon, but the source does not specify the timing of each project's buildout.

The players

Rowan Digital Infrastructure

A data center developer headquartered in Denver with projects in Texas, Maryland and Oregon, which has raised more than $8 billion from lenders over the past 18 months.

Apterra Infrastructure Capital

The infrastructure lender that led the $600 million increase to Rowan's holding company term loan and expanded its term loan facility to $900 million.

Citibank

The global banking institution that led Rowan's new $590 million revolving credit facility and $355 million letter of credit facility.

The details

The package includes a $600 million increase to Rowan's holding company term loan, a new $590 million revolving credit facility and a new $355 million letter of credit facility, with Citibank leading the two facilities. Rowan may raise the revolving credit facility to up to $2 billion and the letter of credit facility to up to $1 billion.

September 2025: Rowan closed its term loan and letter of credit facility with Apterra.
Past 18 months: Rowan raised more than $8 billion from over 40 lenders.
Thursday (November 12, 2026): Rowan announced the new corporate financings.

Roadmap

Rowan's financing reflects a broader pattern in which data center developers rely on syndicated bank and private lender capital to fund multi-gigawatt pipelines. The company's $8 billion raised from more than 40 lenders over 18 months places it among the developers building capacity through layered credit facilities rather than equity alone.

For most readers the financing does not change service or pricing directly, but it signals that data center capacity tied to technology customers is being funded for future buildout. Residents near the Texas, Maryland and Oregon projects may see construction and power-infrastructure changes as those sites advance.

The takeaway

Large data center pipelines increasingly depend on layered credit facilities from banks and private lenders, so the pace of construction tracks lender appetite as much as technology demand. Watching the drawdown of Rowan's new facilities will show how quickly its 5.5-gigawatt pipeline moves forward.