Vantage Data Centers raises $1.1bn to fund two US construction projects
US-based Vantage Data Centers has raised $1.125bn in securitisation financing in the aim of accelerating its expansion initiatives with the construction of two data centre campuses in Santa Clara and Northern Virginia.
The firm has revealed that it will now have $500mn to spend on this expansion programme when combined with equity commitments from the company’s sponsors and the refinancing of its credit facility.
“Vantage continues to lead the way with the data centre’s first ever securitization financing,” said Sureel Choksi, Vantage’s President and CEO.
“We were thrilled with the strong response from investors for this offering, which we believe speaks both to the high quality and growth prospects of Vantage’s business. Vantage now has over $500 million in available funding to finance growth in existing markets and accelerate new market expansion.”
Vantage Data Centres currently owns six facilities in California, one Quincy, Washington and the others in Santa Clara, with the two new campuses set to add to this portfolio.