Sumitomo Mitsui Banking Corporation (SMBC) closed a $375 million financing deal with Applied Digital Corporation on February 12, 2025. This financing is intended to support the development of Applied Digital's Ellendale High-Performance Computing (HPC) Campus.
A portion of the proceeds from the loan will be used by Applied Digital to repay its obligations under a Macquarie Capital senior secured note. The remaining funds are earmarked to advance the construction of the first and second data center buildings at the Ellendale HPC Campus.
This transaction represents a significant business win for SMBC, highlighting its participation in financing critical digital infrastructure projects. The partnership with Applied Digital underscores SMBC's role in supporting growth sectors and expanding its lending portfolio.
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