Company leverages favorable interest rates to reduce costs, extend debt maturity profile and fund expansion opportunities
DENVER–(BUSINESS WIRE)–#cloud–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.”
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 six markets in North America and six markets in Europe, 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.
Vantage Data Centers
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