AUSTIN, Texas--(BUSINESS WIRE)--
Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas” or “the Company”) today announced it has closed a $424 million committed senior secured bridge facility provided by Goldman Sachs and Barclays. Backed by the two cost reimbursement agreements (“CRAs”) announced previously on September 25, 2026, the facility will fund the purchase of power generation and balance-of-plant equipment for two significant data center projects with first power for both expected in late 2027.
The facility is a $424 million delayed draw term loan. Atlas expects to draw on it as equipment payments come due and has drawn $171 million at closing. The loan has an initial maturity of 180 days, with an option to extend for an additional 184 days upon the consummation of energy supply agreements for the respective projects, lender consent and other conditions. It bears interest at a rate equal to the Adjusted Term SOFR Rate (or Adjusted Daily Simple SOFR) plus 2.50%, increasing by 0.50% six months after the date of the signing. Atlas has the ability to request incremental commitments of up to $286 million, subject to lender consent and other conditions.
“Our customer’s conviction in pursuing these projects is exemplified by their willingness to backstop the purchase of this equipment and the related bridge facility,” said John Turner, President and Chief Executive Officer of Atlas. “This facility enables us to de-risk the supply chain by ordering long lead-time items well in advance of commissioning while we work towards final agreements with our customer and the other related counterparties. Most of the project spending comes after those are signed and construction has begun, and we’ll fund it with long-term financing backed by each project’s contracted cash flows.