Vantage Data Centers raises $692M for North American expansion

Vantage Data Centers raised $548 million in new securitized notes, inclusive of expanded Variable Funding Note undrawn capacity, as well as $144 million in project-based construction debt financing from a consortium of banks.

The company plans to used the funds to refinance existing floating rate credit facilities, significantly reducing interest expense, and to fuel the development of data centers across North America.

“Vantage continues to pioneer not only best-in-class data center infrastructure but also industry-leading capital formation and deployment strategies that together enable the company to meet the demands of our hyperscale customers,” said Sharif Metwalli, Vantage’s CFO.

http://www.vantage-dc.com