Hyperscale data center campus provider, Vantage Data Centers announced that the company has raised $1.3 billion in securitized notes. The company also announced that the notes are split between a five-year issuance and a seven-year issuance. The company will use the proceeds to refinance the debt and reduce Vantage’s overall cost of capital by approximately 30% on average across its capital structure and extend debt maturities.
The notes are rated “A-” by Standard & Poor’s. Vantage Data Centers also stated that the financing will also provide cash for further investment. The company leverages favorable interest rates to reduce costs, extend debt maturity profile, and fund expansion opportunities. Sharif Metwalli, CFO, Vantage Data Centers, said,
“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. 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.”