Vantage Data Centers: Vantage Data Centers Raises US$1.3 Billion in Securitized Notes to Accelerate North American Expansion

Oct 06, 2020 | Posted by Bob Tester

Company leverages favorable interest rates to reduce costs, extend debt maturity profile and fund expansion opportunities

DENVER – Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced that the company raised US$1.3 billion in securitized notes. The notes are split between a five-year issuance (Series 2020-1) and a seven-year issuance (Series 2020-2) and are rated “A-” by Standard & Poor’s. They generally rank pari-passu with Vantage’s existing outstanding notes.

The proceeds from this transaction are primarily being used to refinance outstanding debt and will reduce Vantage’s overall cost of capital by approximately 30% on average across its capital structure and extend debt maturities. This financing also provides cash for further investment.

“The current market environment proved extremely advantageous for Vantage and our investors to lower our capital costs, extend maturities and provide funding for growth opportunities,” said Sharif Metwalli, Vantage’s CFO. “Having access to capital at today’s attractive market rates gives us the ability to redeploy the realized savings with additional investments to grow the business across key regions throughout North America where our customers’ data center requirements continue to increase.”

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