DataBank, a provider of enterprise-class colocation, interconnection and managed cloud services, has issued $715 million of secured notes in its third securitization offering since 2021.
Demand for the securitization was extremely high with 30 unique investors, including 13 new participants.
The new securitization notes with a fixed-interest rate will pay down previously issued floating-rate debt, reducing cash interest expense and providing additional liquidity to DataBank's balance sheet for investment in new data center capacity at existing data center campuses in Salt Lake City, Denver, Atlanta and New York.
“This securitization reflects the tremendous value of our data center portfolio and the quality, stable earnings they generate,” said Kevin Ooley, president and CFO at DataBank. “Continued demand from investors is a clear endorsement of our strategy to develop the largest geographic footprint of multi-tenant edge colocation data centers in the U.S,