Polar, an H.I.G. Capital Portfolio Company, Completes Record-breaking EUR 800 million Nordic Bond Issue

H.I.G. Capital ("H.I.G."), a leading global alternative investment firm with $75 billion of capital under management, is pleased to announce that its portfolio company, PolarDC Group Limited ("Polar" or the "Company"), has successfully raised a EUR 800 million senior secured bond in the Nordic bond market, through its wholly owned subsidiary, PolarDC Finance NO1 AS. The landmark transaction sets a new record for deal size in the Nordic market and cements Polar's scaled, market-leading position as a developer, owner, and operator of European data centre infrastructure that targets high-performance computing applications.The bond proceeds will be applied to refinancing existing debt on the Company's first data centre in Drangedal, Norway, and finalizing construction of two additional data centre facilities targeted for completion in 2026 and 2027. The transaction attracted strong interest from institutional investors globally and was significantly oversubscribed.Andy Hayes, CEO at Polar, said, "This financing represents a pivotal moment as Polar scales to represent one of Europe's leading data centre platforms, building infrastructure ready for AI and high-performance compute workloads. We continue to see significant demand growth across neocloud, hyperscale, and enterprise customers for Polar's purpose-built facilities, and we look forward to further enhancing the robust partnerships we have built with the industry's leading customers, suppliers, and future sites."Andrew Liau, Head of Europe Infrastructure at H.I.G., said, "We are thrilled by this transaction and the validation provided through the participation of leading institutional investors. Since H.I.G.'s initial investment, Polar has grown rapidly to meet customer demand and has executed on a substantial development pipeline across Europe. This issuance reflects the quality of the business."Arctic Securities and DNB Carnegie acted as joint bookrunners in connection with the issuance. Thommessen and Wikborg Rein acted as counsel to the issuer and the joint bookrunners, respectively.

Polar, an H.I.G. Capital Portfolio Company, Completes Record-breaking EUR 800 million Nordic Bond Issue

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