DataBank to Issue $658 Million of Secured Notes in Inaugural Securitization Offering
First-Ever Securitization in Enterprise Data Center Colocation Environment
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DALLAS, March 12, 2021 /PRNewswire/
DataBank, a leading provider of enterprise-class colocation, connectivity, and managed services, today announced that it will issue $658 million of secured notes in its first-ever securitization offering.
The new securitization notes will refinance DataBank s existing credit facility, providing additional capital to support expansion, while substantially reducing financing costs by more than 50%. This securitization and refinancing of previous loans adds more than $200 million in liquidity to DataBank s balance sheet, providing ample funding for general purposes and continued investment in new data center capacity. In addition, the financing locks in rates for five years and provides a powerful launchpad from which the company can initiate fut