Cloud Capital, a global data center investment management firm, has closed a $520 million asset-backed securities (ABS) issuance through its newly established Cloud Capital ABS Master Trust, the second ABS Master Trust managed by Cloud Capital.
This structure is designed to provide a scalable and repeatable financing platform for Cloud Capital’s stabilized core joint venture strategy, which is backed by Realty Income and a leading global institutional investor, and marks the launch of the industry’s first programmatic data center ABS Master Trust set-up for a core joint venture. The transaction is the first data center ABS issuance to achieve AAA ratings from three independent rating agencies. It is structured as a single A-2-I tranche and rated AAA by Fitch Ratings, Morningstar DBRS and Kroll Bond Rating Agency, reflecting the quality of the underlying assets, conservative capital stack and long-term contracted cash flows.
The issuance is secured by an 80-megawatt
