DataBank Secures $1.1 Billion in Hyperscale Asset Securitization
DataBank has announced the issuance of $1.1 billion in secured notes into a new master trust, marking its fifth securitization since 2021 and its first for hyperscale facilities, announced in a press release. This move brings DataBank's total securitized portfolio to $3.23 billion of investment-grade bonds.
The new asset-backed securities (ABS) trust is notable for being dual-rated by both S&P and Moody's, with Moody's providing its first-ever data center ABS rating. The proceeds from this issuance will be used to refinance previous loans for the construction of DataBank's ATL4, IAD3, and LGA3 facilities, as well as to fund further data center capacity development across the U.S.
DataBank's President & CFO, Kevin Ooley, highlighted the company's ability to support both hyperscale and enterprise customers, reflecting the value and stability of its portfolio's earnings. The issuance was heavily oversubscribed, attracting 38 unique investors, indicating strong support for DataBank's strategic plans.
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