Norton Rose Fulbright represents Crusoe Inc. in novel US$750 million financing for data center development

Global law firm Norton Rose Fulbright represented Crusoe Inc. (Crusoe) in a US$750 million credit facility provided by an affiliate of Brookfield Asset Management. The credit facility will be used to accelerate the construction for third parties of new data centers devoted to AI computing.

The credit facility is secured by a novel collateral package and is tied to a borrowing base calculated based on the potentially fluctuating value of at least eight pending datacenter construction projects for hyperscale tenants.

In October 2024, Norton Rose Fulbright negotiated a complex ground lease for the first phase of Crusoe’s state-of-the-art, 1.2-gigawatt data center in Abilene, Texas.

Norton Rose Fulbright’s deal team was led by Josh Agrons and Ryan Graham and included Nicholas Roberts (Houston) and Todd Schroeder. Bryn Sappington (Dallas) is the relationship partner for Crusoe and coordinated the financing with another material transaction for Crusoe.