Business
BrightNight Announces First Close of Upsized Corporate Credit Facility
BrightNight, a next-generation power and digital infrastructure company with a 30 GW national portfolio, today announced the successful first closing of its upsized corporate credit facility (the "Corporate Facility").
About this update from Bank Hapoalim Bm
[{"type":"text","content":"WEST PALM BEACH, Fla., March 24, 2026 /PRNewswire/ -- BrightNight, a next-generation power and digital infrastructure company with a 30 GW national portfolio, today announced the successful first closing of its upsized corporate credit facility (the "Corporate Facility").","length":282,"tagName":"p"},{"type":"image","alt":"BrightNight Logo (PRNewsfoto/BrightNight)","displaySize":"","headline":null,"caption":"BrightNight Logo (PRNewsfoto/BrightNight)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":231,"url":"https://media.zenfs.com/en/prnewswire.com/f286a7e0f4cc3b306d5eca63a27660a1"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/FjZuJXWhydV02.YqzPq7yg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQwNw--/https://media.zenfs.com/en/prnewswire.com/f286a7e0f4cc3b306d5eca63a27660a1","width":400,"height":231}},"href":"https://mma.prnewswire.com/media/1978189/BrightNight_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Corporate Facility provides a maximum total commitment of up to $850 million, including up to $550 million for letters of credit, up to $200 million for equipment deposits and limited notice to proceed facilities, and $100 million in revolving credit capacity. The first closing includes participation from both existing and new lenders.","length":341,"tagName":"p"},{"type":"text","content":"ING Capital LLC, First Citizens Bank, HSBC, Natixis Corporate & Investment Banking and ICBC Standard Bank are serving as Coordinating Lead Arrangers. BHI (Bank Hapoalim) is acting as Joint Lead Arranger, and East West Bank is participating in the facility.","length":260,"tagName":"p"},{"type":"text","content":"The upsized facility provides significant incremental capital to support BrightNight's accelerating growth strategy. Proceeds are being used to support credit obligations and capital requirements across BrightNight's expanding development and construction portfolio. The expanded Corporate Facility also provides the financial capacity to accelerate advancement of BrightNight's Western U.S. pipeline, particularly across Arizona, Oregon, and Washington. With increased liquidity and credit support, the company is positioned to move a larger volume of projects through key development milestones, including grid interconnection, regulatory approvals,...