Macquarie Provides $290M Term Loan to New Era

New Era Energy & Digital has closed a multi-tranche senior secured term loan credit facility of up to $290 million with Macquarie to finance its flagship Texas Critical Data Center Project. The financing is provided through Texas Critical Data Centers LLC.

The facility includes a $20 million committed Term Loan A-1, $30 million Term Loan A-2, $40 million Term Loan A-3, and a $200 million delayed-draw term loan, with maturity on the three-year anniversary of closing. Proceeds are for general corporate purposes, including acquisition, improvement, and equipping of properties for the TCDC project and potential repayment of existing indebtedness.

In connection with the loan, Macquarie will purchase $5 million of New Era common stock at $5.00 per share and receive warrants to purchase up to $5 million of additional shares with a 20% premium exercise price (floor $4.30).