DataBank, the largest data center operator in the United States by footprint, has issued $1.1 billion of secured notes into a new master asset-based security trust.
As the fifth overall securitization since 2021, this brings DataBank’s total securitized portfolio to $3.23 billion of investment-grade bonds. The issuance also is DataBank’s second green-bond financing and its first for hyperscale facilities.
The proceeds will be used to refinance previous loans put in place to construct DataBank’s ATL4, IAD3 and LGA3 facilities and to fund development of additional data center capacity across its U.S. platform. All three data centers were constructed and leased almost entirely to hyperscale cloud and emerging hyperscale providers.
The new ABS trust is the first to be dual-rated by both S&P and Moody’s, and represents Moody’s first data center ABS. It was developed to attract a new pool of investors and was heavily oversubscribed, with 38 investors ind
