TX-based DataBank Raises $456 Million in Fourth Securitization of the Past Three Years. One hundred percent of the proceeds will be used to refinance a previous bridge loan put in place to purchase four data centers in the Houston market from CyrusOne in 2022 and to fund development of additional data center capacity across the DataBank platform.
The securitization was heavily oversubscribed and included a number of repeat investors as well as nine new investors, indicating strong support for DataBank’s strategic plans.
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In order to qualify as a green bond, the facilities being refinanced had to meet specific sustainability criteria for water conservation, carbon emissions reduction, and a low Power Usage Effectiveness (PUE). These projects, as well as others underway across DataBank’s portfolio, are all contributing to its goal of being carbon neutral by 2030.
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Kevin Ooley, DataBank’s President & CFO said, “This financing reflects not only DataBank’s commitment to sustainability and efficiency, but also the tremendous growth opportunity ahead of us, and the value and stability of our portfolio’s earnings, It signals the strong endorsement of investors in our strategy, footprint, and ability to execute profitably across that entire portfolio.”
Kroll Bond Rating Agency provided an initial rating of the $456 million secured notes which were A- rated. Deutsche Bank Securities acted as Sole Structuring and as a Joint Active Bookrunning Manager. Guggenheim Securities and TD Securities acted as Joint Active Bookrunning Managers in the transaction as well.
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About DataBank
Recognized by Deloitte as one of the fastest-growing private U.S. companies in 2023, DataBank helps the world’s largest enterprises, technology, and content providers ensure their data and applications are always on, always secure, always compliant, and ready to scale to meet the needs of the artificial intelligence era.
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