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Vantage completes landmark £600M EMEA data centre securitization

Written by Tue 11 Jun 2024

Vantage Data Centers has announced it had raised £600 million ($764 million) in securitized term notes, marking the first-ever securitization of data centre assets in EMEA.

The transaction, led by Barclays and Sumitomo Mitsui Banking Corporation (SMBC) Nikko Capital Markets, will refinance £480 million ($611 million) of debt for two facilities called CWL11 and CWL13 at Vantage’s 148MW campus in Cardiff.

Excess proceeds will be allocated to capital expenses and general corporate purposes. The notes have an anticipated five-year repayment date.

“Vantage’s pursuit of innovative funding vehicles to drive the company’s continued global development is core to our ability to rapidly meet demand for the critical infrastructure necessary to support cloud adoption and AI,” said Sharif Metwalli, Chief Financial Officer at Vantage Data Centers.

This marks Vantage’s ninth green debt issuance. The transaction received a Green Bond designation, confirmed by a Second-Party Opinion (SPO) from Morningstar Sustainalytics in March 2024.

The proceeds will contribute to the progress on UN Sustainable Development Goals (SDGs) and support the research and development of new sustainable features to reduce Vantage’s carbon footprint.

To date this year, Vantage has raised £1.3 billion ($1.7 billion) in debt financing for its EMEA platform.

In January, Vantage Data Centers has announced a £5 billion ($6.4 billion) equity investment led by DigitalBridge Group and Silver Lake. This investment addresses the soaring demand for cloud and AI services.

The investment will be utilised across North America and EMEA. t is incremental to the £1.2 billion (€1.5 billion) to be invested by AustralianSuper in Vantage EMEA and includes expected investment from DigitalBridge and Silver Lake co-investors.

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Written by Tue 11 Jun 2024

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