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Expansion is set to take place in existing and new markets as demand for green colocation drives construction projects forward.
Founder and Editor, The Tech Capital
December 03, 2021 | 1:57 AM GMT
US data centre operator Flexential has completed the largest single asset-backed securities (ABS) issuance to date in the data centre industry amounting to US$2.1 billion, including the largest-ever green data centre ABS financing, to support growth and development.
The company issued the green notes under its new Green Finance Framework and the offering cash will be used to deploy greater data centre capacity to meet accelerating demands in new and existing markets.
Further details of the transaction include:
Chris Downie, chief executive officer, Flexential, said: “We will leverage the capital generated by this transaction to deliver on our promise to support our customers’ evolving hybrid IT requirements. This inflection point is a result of considerable effort and tenacity from our employee base, along with the support from our investment partners and the entire Flexential ecosystem.”
Also commenting, Garth Williams, chief financial officer, Flexential, said: “Our sustainability strategy focuses on where we can make the most impact by ensuring the entire lifecycle of Flexential’s facilities are designed, built and maintained with sustainability in mind.
“We will look to achieve this through energy- and water-efficient cooling, cleaner power systems, and renewable energy options.”
Guggenheim Securities, LLC acted as sole structuring advisor and joint active bookrunning manager for the securitised notes. J.P. Morgan, and Deutsche Bank Securities acted as joint active bookrunning managers.
ING Financial Markets LLC was engaged as the Sole Sustainability Coordinator and passive bookrunner. Barclays, Citigroup, Jefferies, MUFG, and Truist Securities were engaged as co-managers for the transaction.
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