Vantage Knowledge Facilities has raised £600 million in securitized time period notes, marking the first-ever securitization of information heart belongings in EMEA. The transaction contains an extra £100 million in unfunded Variable Funding Notes. The time period notes are rated A-, A (low) and A by Commonplace & Poor’s, Morningstar DBRS and Scope Scores, respectively.
Led by Barclays, who acted as sole structuring advisor and sole inexperienced structuring advisor, and Sumitomo Mitsui Banking Company (SMBC) Nikko Capital Markets, the notes might be used to refinance £480 million of debt for 2 services (CWL11 and CWL13) on Vantage’s 148MW Cardiff, Wales campus, one of many largest hyperscale information heart campuses in Europe. Extra proceeds might be used for capital bills and normal company functions. The notes have an anticipated five-year compensation date.
Marking Vantage’s ninth inexperienced debt issuance, the transaction achieved a Inexperienced Bond designation through a Second-Get together Opinion (SPO) from Morningstar Sustainalytics in March 2024. Using proceeds will result in progress on UN Sustainable Growth Objectives (SDG) and can help the analysis and improvement of subsequent technology sustainable options to attenuate Vantage’s carbon footprint. For added particulars, please see the corporate’s Inexperienced Bond Framework.
“Vantage’s pursuit of progressive funding automobiles to drive the corporate’s continued international improvement is core to our potential to quickly meet demand for the crucial infrastructure essential to help cloud adoption and AI,” mentioned Sharif Metwalli, chief monetary officer for Vantage Knowledge Facilities. “We’re proud to proceed our pioneering use of securitization financing within the information heart sector, particularly in Europe, and sit up for our ongoing improvement of versatile, sustainable digital infrastructure across the globe to allow the expansion of our clients.”
“We’re proud to help Vantage with the inaugural information heart securitization financing in our U.Okay. residence market utilizing our market main experience in digital infrastructure securitization to assist unlock a brand new supply of capital for the asset class in Europe,” mentioned Gordon Beck, head of European company & sustainable securitization at Barclays.
So far this 12 months, Vantage has raised $1.7 billion in debt financing for its EMEA platform.
