DataBank Raises $456M in Fourth Securitization in Three Years

DataBank

DataBank, a Dallas, TX-based provider of enterprise-class edge colocation, interconnection, and managed cloud services, issued $456m of secured notes.

These represent its fourth securitization since 2021, and first green financing, bringing the total securitized portfolio to $2.16 billion of investment grade bonds.

One hundred percent of the proceeds will be used to refinance a previous bridge loan put in place to purchase four data centers in the Houston market from CyrusOne in 2022 and to fund development of additional data center capacity across the DataBank platform. The securitization included a number of repeat investors as well as nine new investors. 

Today’s announcement follows three previous securitizations: 

  • $658M of notes issues in March of 2021 (the first ever securitization for a multi-tenant, enterprise data center provider), 
  • $330M of notes issued in October of 2021, and 
  • $715M of notes issued in March of 2023.

The company also completed a $2.2 billion recapitalization led by SwissLife Asset Management in 2022. Today, DataBank operates the largest portfolio of data centers in the U.S. with 65+ data centers and 20 major interconnect locations in 27+ metro markets. Its edge colocation and infrastructure footprint consists of 65+ “HPC-ready” data centers in 27+ markets, 20 interconnection hubs, and on-ramps to an ecosystem of cloud providers with virtually unlimited reach.

FinSMEs

16/02/2024