An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Vantage Data Centers Raises an Additional US$530 Million in Securitized Notes to Further Strengthen Financial Position
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Vantage Data Centers has successfully raised US$530 million through a securitized note issuance, marking its seventh such financing since 2018. The five-year notes, rated A- by Standard & Poor’s, will primarily refinance its Variable Funding Note facility and support general corporate needs. This financing, characterized by the tightest spread Vantage has achieved, reflects the company's strong financial position and growing demand for hyperscale data centers. The transaction was facilitated by DigitalBridge Group, Inc. (NYSE: DBRG), Vantage's majority stakeholder.
Positive
Raised US$530 million in securitized notes.
Achieved the tightest spread in financing history for Vantage.
Funded both refinancing and general corporate needs.
Negative
None.
Company leverages favorable interest rate environment to refinance recent fundings and to provide for general corporate needs
DENVER--(BUSINESS WIRE)--
Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced that the company raised US$530 million in securitized notes. The notes are a five-year issuance (Series 2021-1) and are rated A- by Standard & Poor’s. They generally rank pari-passu with Vantage’s existing outstanding notes. The transaction was supported by DigitalBridge Investment Management, the investment management arm of Vantage’s majority stakeholder, DigitalBridge Group, Inc. (NYSE: DBRG).
The proceeds from this transaction are primarily being used to refinance the company’s Variable Funding Note (VFN) facility, which was used to facilitate the CA22 transaction in September 2021, as well as to fund general corporate needs. This financing priced at the tightest spread ever for Vantage, continuing the company’s recent momentum of accessing attractively priced capital to fund the growth of its securitized data center portfolio.
“This transaction marks Vantage’s seventh securitization financing since 2018 when we pioneered the use of this approach in the data center sector,” said Sharif Metwalli, Vantage’s chief financial officer. “We are faced with increasing demand for premiere hyperscale data centers that can be delivered quickly and sustainably. Our strong financial position enables us to continue our global expansion with favorable interest rates that not only reduce our overall costs but further strengthen our competitive position in the market. We appreciate DigitalBridge’s partnership throughout this process and their continued support to grow our business.”
“We are proud of our ability to execute unprecedented financings for our portfolio companies, and we applaud the Vantage team for this milestone,” said Marc Ganzi, president and chief executive officer of DigitalBridge. “Not only does the transaction spread represent Vantage’s tightest yet, it is also a meaningful improvement in spread compared to the company’s October 2020 offering, which was the lowest coupon financing issued in the data center sector. The outsized demand for this financing is a testament to the expertise of the Vantage and DigitalBridge teams and the value-creation opportunities ahead, and we are excited to continue working together to build a best-in-class global digital infrastructure platform. We are confident that Vantage is very well positioned for long-term growth and success.”
The notes have not been, and will not be registered, under the Securities Act of 1933, as amended, and may not be offered or sold absent such registration, or an applicable exemption from the registration requirements thereunder. This press release is neither an offer to sell, nor a solicitation of an offer to buy any notes, nor shall there be any sale of the notes in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Vantage Data Centers Vantage Data Centers powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands. For more information, visit www.vantage-dc.com
About DigitalBridge DigitalBridge Group, Inc. (NYSE: DBRG) is a leading global digital infrastructure REIT. With a heritage of over 25 years of investing in and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells and edge infrastructure, the DigitalBridge team manages a $35 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. DigitalBridge is headquartered in Boca Raton with key offices in Los Angeles, New York, London and Singapore. For more information, visit www.digitalbridge.com.
