DataBank, a provider of enterprise-class edge colocation, interconnection and managed cloud services, has issued $456 million of secured notes that represent its fourth securitization since 2021 and first green financing, bringing the total securitized portfolio to $2.16 billion of investment-grade bonds.
The securitization was heavily oversubscribed and included a number of repeat investors, as well as nine new investors.
It follows on the heels of three previous securitizations: $658 million of notes issues in March 2021 (the first ever securitization for a multitenant, enterprise data center provider); $330 million of notes issued in October of 2021; and another $715 million of notes issued in March 2023. The company also completed a $2.2 billion recapitalization in 2022, led by SwissLife Asset Management.
The proceeds of the latest securitization will be used to refinance a previous bridge loan put in place to purchase four data centers in the Houston market
