The money is coming from a syndicate of banks, eStruxture said, including Scotiabank, BMO and Deutsche Bank. Founded in 2017, the company focuses exclusively on Canadian markets, with sites serving Montreal, Toronto, Calgary and Vancouver. (The Logic)

Talking point: The data-centre market exploded with the COVID-19 pandemic, eStruxture’s CEO Todd Coleman told The Logic, but it’s a capital-intensive business so growth requires a lot of money. “We’ve got some considerable expansion plans for 2023 and ’24, so that’s largely where that capital is going to go,” he said. The company opened its second site for Calgary last year, a “hyperscale” data centre north of the city in Balzac. Starting with $80 million in capital, eStruxture has previously announced a first $170-million credit facility in 2019 and then a $600-million raise in combined debt and equity in 2021.