Switch, a premier provider of artificial intelligence (AI), cloud and enterprise data centers, has closed its fourth asset-backed securities (ABS) offering, raising nearly $659 million and bringing the company’s total ABS issuance to approximately $3.5 billion. This makes Switch the largest single issuer of data center ABS since 2024.
All of Switch's ABS issuances qualify as secured green bonds. Proceeds from this issuance will be used to fund Switch’s growth strategy, which includes ongoing development at each of its five campuses for hyperscale, AI and enterprise customers.
In July, Switch announced it had retired all $6.5 billion of bank debt incurred during its 2022 take-private. This ABS issuance marks Switch’s first securitization with proceeds dedicated entirely to fund new development.
Switch’s enterprise ABS platform now encompasses 10 data centers across four geographically diverse campuses serving nearly 500 customers, with more than 70 percen
