Latest news with #VantageDataCenters
Yahoo
8 hours ago
- Business
- Yahoo
Vantage identified as operator for Port Washington's proposed 3.5 gigawatt data center campus
Port Washington residents finally have some clarity on one of the companies that would eventually occupy the proposed 3.5-gigawatt data center campus that developers say could be one of the country's largest: That long-awaited end user is Denver-based Vantage Data Centers. Cloverleaf Infrastructure, the Houston-based private-equity backed firm that acquired the land and permitting for the project, confirmed the identity of the company on June 11. The announcement comes three weeks after the City of Port Washington's Common Council annexed and rezoned around a third of the entire 1,900-acre project site from the Town of Port Washington for an initial phase of development to be completed by 2027. The rest of development is planned for completion by 2030. Vantage describes itself as a developer and operator of hyper scale data center campuses across the world, according to the company's website. Founded in 2010, Vantage "powers, cools, protects and connects the technology of the world's leading hyper scalers, cloud providers and large enterprises." The company says it is backed by a consortium of marquee investors and is working to aggressively pursue opportunities in key global markets where its customers are looking to expand. Vantage has pledged to achieve net zero carbon emissions globally by 2030. According to the company's website, it's go-to choice for cooling is air-cooled chillers in a closed-loop system, which it says saves water and energy. However, it is not yet clear how it would choose to cool the data centers in Port Washington. The company currently has 35 campuses across the world, five of which are in the United States in Virginia, Ohio, Arizona, Washington and California. Cloverleaf Chief Development Officer Aaron Bilyeu declined to comment beyond confirming the end user company's identity. Wisconsin is already home to over 40 data centers, according to a data center industry mapping site, though the vast majority are several magnitudes smaller in size and energy use compared with the Port Washington proposal. That total is likely to increase and new proposals will likely be on the larger side of the scale, as state officials are positioning Wisconsin to capitalize on the burgeoning AI and data center industry. State legislators have worked to attract data center companies to Wisconsin and are currently working to clear the path for this project and other current and future data centers in the state by removing limits on tax incremental financing districts that could be used to help finance these projects. The Journal Sentinel has reached out to Vantage over email and phone but has not immediately heard back. Details about the project's final form will hinge upon ongoing and future negotiations between Vantage, We Energies, Cloverleaf and American Transmission Co., with oversight from the city, the Public Service Commission and the Wisconsin Department of Natural Resources. Some of those critical decisions include whether Lake Michigan water will be used for cooling the energy-intensive servers, how to address the campus' localized environmental impact, what new energy assets will be built to power the project and how potential plans for AI might affect the general public ― all concerns expressed by residents near the site who are following the proposal closely. Already, broad concept plans for the massive campus include 11 data center buildings and five substations. These buildings would house thousands of interconnected computers linked to the outside world through fiber optic cables to power most modern online services, like social media, video streaming, cloud storage, banking, air traffic control and, increasingly, AI tools. Cloverleaf has said it's already working with We Energies to bring 1.3 gigawatts worth of power-generating assets onto the grid by 2027 for the first phase of the project, around 30% to 40% of which would be renewable, according to the firm. Also by 2027, American Transmission Co. is planning to bring a new high-voltage power line to the site. Contact Claudia Levens at clevens@ Follow her on X at @levensc13. This article originally appeared on Milwaukee Journal Sentinel: Vantage to operate proposed data center campus in Port Washington
Yahoo
2 days 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
National Post
2 days ago
- Business
- National Post
Vantage Data Centers Completes Industry's First Euro-Based Data Center Asset-Backed Securitization (ABS) with €640M Transaction
Article content Incremental green financing will drive continued, sustainable developments across the refinanced portfolio Article content DENVER & LUXEMBOURG — 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. Article content 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. Article content '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. Article content 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. Article content Over the last 12 months, Vantage has raised €2.2 billion in new debt financing for its EMEA platform. Article content About Vantage Data Centers Article content 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. Article content 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. Article content Article content Article content Article content Contacts Article content Press Contacts Article content Article content Mark Freeman Article content Article content Vantage Data Centers Article content Article content mfreeman@ Article content Article content Robin Bectel REQ for Vantage Data Centers vdc@ +1-202-936-6335 Article content Article content Article content
Business Wire
2 days 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
2 days 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.
