Wholesale data center provider Vantage Data Centers, a company with 11 operational facilities totaling 106MW of capacity located in Silicon Valley; Northern Virginia; Phoenix; Quincy, Washington; Montreal and Quebec City, Canada, as well as five facilities currently under development totaling 89MW, has raised $548 million in new securitized notes. In addition, Vantage Data Centers raised $144 million in project-based construction debt financing from a consortium of banks.
The proceeds of these funding sources will be used to fuel its development of data centers across North America, as well as refinancing existing floating rate credit facilities while significantly reducing interest expense.
Vantage Data Centers has access to multiple funding sources – at attractive rates and terms, says Vantage, in addition to access to the securitization market. When combined with the 2018 securitization issuances, the company has raised more than $1.8 billion of securitized debt leveraging a portfolio of high-quality, geographically diverse stabilized data center assets. These capital raises bring to Vantage Data Centers more than $385 million of additional liquidity to fund further data center expansions.
“Vantage continues to pioneer not only best-in-class data center infrastructure,” said Sharif Metwalli, CFO of Vantage Data Centers. “We also have implemented industry-leading capital formation and deployment strategies that together enable the company to meet the demands of our hyperscale customers.”