Latest news with #RichCosgray
Yahoo
a day ago
- Business
- Yahoo
Vantage Data Centers Completes Industry's First Euro-Based Data Center Asset-Backed Securitization (ABS) with €640M Transaction
Incremental green financing will drive continued, sustainable developments across the refinanced portfolio DENVER & LUXEMBOURG, June 09, 2025--(BUSINESS WIRE)--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced it has raised €640 million in securitized term notes, marking the first-ever euro-based securitization of data center assets in Continental Europe. The transaction includes an additional €80 million in unfunded Variable Funding Notes. The Class A-2 Notes are rated A-, and the Class B Notes are rated BBB- by Standard & Poor's and Scope Ratings. This transaction follows Vantage's success last year with the first-ever EMEA data center ABS completed in British pound sterling. The notes will be used to refinance four data centers in Germany, two in Offenbach, Frankfurt, and two in Berlin, all of which are fully leased to hyperscale customers. The refinancing is part of Vantage's wider efforts to further expand its presence in the EMEA region and accelerate time to market to meet mounting demand for AI and cloud capacity. Surplus funds will be allocated toward capital expenditures and broader corporate initiatives. The notes have an anticipated five-year repayment date. "The issuance of the first euro-denominated ABS in the data center sector marks a significant milestone in digital infrastructure financing. Having previously issued the first data center ABS in both North America and EMEA (sterling-denominated), Vantage continues to showcase our innovative approach to capital markets and our ability to unlock new funding vehicles to fuel our global expansion," said Rich Cosgray, senior vice president, global capital markets for Vantage Data Centers. Vantage was represented by Clifford Chance LLP, and the transaction was led by Barclays and Deutsche Bank as active Joint Lead Managers. The transaction was supported by ING and Natixis as Joint Lead Managers and ABN Amro, Banco De Sabadell, SMBC and Societe Generale as Co-Managers. Barclays acted as Sole Structuring Advisor and Sole Green Structuring Advisor, and the transaction achieved a Green Bond designation via a Second-Party Opinion (SPO) from Morningstar Sustainalytics. The funds raised will contribute to advancing the United Nations Sustainable Development Goals (SDGs) and will facilitate the innovation of next-generation sustainable solutions aimed at reducing Vantage's environmental impact. For more information, please refer to the company's Green Bond Framework. Over the last 12 months, Vantage has raised €2.2 billion in new debt financing for its EMEA platform. For more information about Vantage's growing EMEA footprint, please visit: About Vantage Data Centers Vantage Data Centers powers, cools, protects and connects the technology of the world's well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands. For more information, visit Nothing in this press release constitutes an offer to sell or the solicitation of an offer to buy the notes in any jurisdiction, and there shall not be any sale of the notes in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. View source version on Contacts Press Contacts Mark FreemanVantage Data Centersmfreeman@ +1-202-680-4243 Robin BectelREQ for Vantage Data Centersvdc@ +1-202-936-6335 Nigel ParkerFulfil Communications for Vantage Data Centers, EMEAnigelp@ +44-(0)-7778-872-457
Business Wire
a day ago
- Business
- Business Wire
Vantage Data Centers Completes Industry's First Euro-Based Data Center Asset-Backed Securitization (ABS) with €640M Transaction
DENVER & LUXEMBOURG--(BUSINESS WIRE)--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced it has raised €640 million in securitized term notes, marking the first-ever euro-based securitization of data center assets in Continental Europe. The transaction includes an additional €80 million in unfunded Variable Funding Notes. The Class A-2 Notes are rated A-, and the Class B Notes are rated BBB- by Standard & Poor's and Scope Ratings. This transaction follows Vantage's success last year with the first-ever EMEA data center ABS completed in British pound sterling. The notes will be used to refinance four data centers in Germany, two in Offenbach, Frankfurt, and two in Berlin, all of which are fully leased to hyperscale customers. The refinancing is part of Vantage's wider efforts to further expand its presence in the EMEA region and accelerate time to market to meet mounting demand for AI and cloud capacity. Surplus funds will be allocated toward capital expenditures and broader corporate initiatives. The notes have an anticipated five-year repayment date. 'The issuance of the first euro-denominated ABS in the data center sector marks a significant milestone in digital infrastructure financing. Having previously issued the first data center ABS in both North America and EMEA (sterling-denominated), Vantage continues to showcase our innovative approach to capital markets and our ability to unlock new funding vehicles to fuel our global expansion,' said Rich Cosgray, senior vice president, global capital markets for Vantage Data Centers. Vantage was represented by Clifford Chance LLP, and the transaction was led by Barclays and Deutsche Bank as active Joint Lead Managers. The transaction was supported by ING and Natixis as Joint Lead Managers and ABN Amro, Banco De Sabadell, SMBC and Societe Generale as Co-Managers. Barclays acted as Sole Structuring Advisor and Sole Green Structuring Advisor, and the transaction achieved a Green Bond designation via a Second-Party Opinion (SPO) from Morningstar Sustainalytics. The funds raised will contribute to advancing the United Nations Sustainable Development Goals (SDGs) and will facilitate the innovation of next-generation sustainable solutions aimed at reducing Vantage's environmental impact. For more information, please refer to the company's Green Bond Framework. Over the last 12 months, Vantage has raised €2.2 billion in new debt financing for its EMEA platform. For more information about Vantage's growing EMEA footprint, please visit: About Vantage Data Centers Vantage Data Centers powers, cools, protects and connects the technology of the world's well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands. For more information, visit Nothing in this press release constitutes an offer to sell or the solicitation of an offer to buy the notes in any jurisdiction, and there shall not be any sale of the notes in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
CNBC
a day ago
- Business
- CNBC
Vantage raises $820 million in a first-of-its-kind cloud and AI data center deal in Europe
U.S. data center operator Vantage has raised 720 million euros ($821.4 million) — the first of its kind deal in Europe. The asset-backed securitization (ABS) deal, the first ever euro-denominated with data center assets on the continent, involves four data centers in Germany. The company said it will be paying on average a 4.3% coupon on the bonds issued through the process. In an ABS, Vantage raises money by using its data center infrastructure and future revenues from the facilities as collateral. Vantage said it will use the funds primarily to pay off existing construction loans previously secured for the facilities. "We believe the ABS market in particular is kind of best suited for our type of asset, which is real estate centric, high credit quality tenants, long term leases, something that is almost perfect for the ABS investor," Sharif Metwalli, chief financial officer of Vantage Data Centers, told CNBC. Vantage added that despite the large sum borrowed, the demand from investors exceeded the amount raised. "So this transaction was actually pretty highly levered, frankly," Rich Cosgray, senior vice president of global capital markets at Vantage Data Centers told CNBC. "It was higher leverage than our prior transaction and we had some investors that just weren't comfortable at that leverage level." "Yet, despite that, we were basically two and four times oversubscribed on the respective financings, and we were able to tighten pricing pretty meaningfully through the marketing process," Cosgray added. The four facilities — two in Berlin and two in Frankfurt — have access to around 55 megawatts of power and "are fully leased to hyperscale customers," the company said in a statement. The four facilities were valued at more than $1 billion earlier this year. Last year, Vantage also raised £600 million through the first-ever securitization of a data center in Europe, the Middle East and Asia (EMEA). The deal involved two units from the company's Cardiff campus with 148 megawatts of electricity power. Across the region, the company has 2,500 megawatts of data center capacity either operational or under development. The transaction was led by Barclays Bank and Deutsche Bank as joint lead managers and Vantage was represented by the British law firm Clifford Chance.
Yahoo
03-06-2025
- Business
- Yahoo
Vantage Data Centers Secures $5B in Incremental Green Loan Financings to Support Demand for North America Platform
$2.25B construction loan for Ohio campus and $2.75B corporate facility upsize underpin rapid growth fueled by cloud and AI requirements DENVER, June 03, 2025--(BUSINESS WIRE)--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced it has secured $5 billion in incremental green loan financings to meet continued demand. The capital includes a $2.25 billion financing to fully fund construction of the company's New Albany, Ohio, campus and a $2.75 billion upsizing of an existing $3 billion 2024 borrowing base loan. These transactions combined give Vantage a total of $8 billion for the ongoing expansion of its North America platform. Innovative Rated Construction FinancingVantage has raised $2.25 billion in debt financing to fund the full development of its New Albany, Ohio, campus. Located just outside Columbus, this 70-acre campus will house three pre-leased hyperscale data centers with 192MW across 1.5 million square feet. The first facility is slated to be operational by December 2025. Led by Mitsubishi UFJ Financial Group, Inc. (MUFG) and Societe Generale, the transaction represents one of the first construction loans in the data center industry to have achieved private investment-grade ratings by two leading rating agencies. Increased Corporate FacilitySeparately, Vantage upsized its existing $3 billion green loan corporate credit facility by an additional $2.75 billion, increasing the total to $5.75 billion. The financing will support the development of data centers and land acquisitions for future growth in North America. The transaction continues Vantage's long-standing relationships with top-tier financial institutions. The expanded facility was arranged by a bank syndicate led by structuring bank Wells Fargo Securities, LLC along with joint bookrunners TD Securities, Truist Securities, Inc. and Scotiabank. "As the need for digital infrastructure continues to accelerate, Vantage remains focused on raising capital to support the rapid expansion of our North America platform," said Rich Cosgray, senior vice president, global capital markets at Vantage. "These financings demonstrate our ability to secure sustainable and innovative funding vehicles to meet market demand and serve our customers with scalable solutions that ultimately increase our speed to market." Both financing deals were secured under Vantage's Green Finance Framework, reinforcing the company's commitment to the sustainable development, delivery and operation of its data centers. This strong financial backing positions Vantage to meet customer demand at scale across multiple markets in support of the digital economy. White & Case served as legal advisor to Vantage on both transactions. About Vantage Data CentersVantage Data Centers powers, cools, protects and connects the technology of the world's well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands. For more information, visit View source version on Contacts Press Contacts Mark FreemanVantage Data Centersmfreeman@ +1-202-680-4243 Robin BectelREQ for Vantage Data Centersvdc@ +1-202-936-6335
Business Wire
03-06-2025
- Business
- Business Wire
Vantage Data Centers Secures $5B in Incremental Green Loan Financings to Support Demand for North America Platform
DENVER--(BUSINESS WIRE)--Vantage Data Centers, a leading global provider of hyperscale data center campuses, today announced it has secured $5 billion in incremental green loan financings to meet continued demand. The capital includes a $2.25 billion financing to fully fund construction of the company's New Albany, Ohio, campus and a $2.75 billion upsizing of an existing $3 billion 2024 borrowing base loan. These transactions combined give Vantage a total of $8 billion for the ongoing expansion of its North America platform. Innovative Rated Construction Financing Vantage has raised $2.25 billion in debt financing to fund the full development of its New Albany, Ohio, campus. Located just outside Columbus, this 70-acre campus will house three pre-leased hyperscale data centers with 192MW across 1.5 million square feet. The first facility is slated to be operational by December 2025. Led by Mitsubishi UFJ Financial Group, Inc. (MUFG) and Societe Generale, the transaction represents one of the first construction loans in the data center industry to have achieved private investment-grade ratings by two leading rating agencies. Increased Corporate Facility Separately, Vantage upsized its existing $3 billion green loan corporate credit facility by an additional $2.75 billion, increasing the total to $5.75 billion. The financing will support the development of data centers and land acquisitions for future growth in North America. The transaction continues Vantage's long-standing relationships with top-tier financial institutions. The expanded facility was arranged by a bank syndicate led by structuring bank Wells Fargo Securities, LLC along with joint bookrunners TD Securities, Truist Securities, Inc. and Scotiabank. 'As the need for digital infrastructure continues to accelerate, Vantage remains focused on raising capital to support the rapid expansion of our North America platform,' said Rich Cosgray, senior vice president, global capital markets at Vantage. 'These financings demonstrate our ability to secure sustainable and innovative funding vehicles to meet market demand and serve our customers with scalable solutions that ultimately increase our speed to market.' Both financing deals were secured under Vantage's Green Finance Framework, reinforcing the company's commitment to the sustainable development, delivery and operation of its data centers. This strong financial backing positions Vantage to meet customer demand at scale across multiple markets in support of the digital economy. White & Case served as legal advisor to Vantage on both transactions. About Vantage Data Centers Vantage Data Centers powers, cools, protects and connects the technology of the world's well-known hyperscalers, cloud providers and large enterprises. Developing and operating across five continents in North America, EMEA and Asia Pacific, Vantage has evolved data center design in innovative ways to deliver dramatic gains in reliability, efficiency and sustainability in flexible environments that can scale as quickly as the market demands. For more information, visit
