Flexential seeks $1.4bn in asset-backed securities financing backed by 28 data center sites

US data center operator Flexential is seeking $1.4 billion in asset-backed securities (ABS) financing, backed by a portfolio of 28 data center sites across 14 markets in 13 states. The financing, comprising two series of notes with an expected initial principal balance of $1.21 billion, will be used to cover closing costs and fully pay off prior debts. The portfolio includes 1.8 million square feet of data center floorspace with approximately 199MW of critical capacity, generating $663.3 million in annualized revenue.

Counterparts (4)

Lender

Wilmington Trust, National Association

company

Wilmington Trust, National Association, a subsidiary of M&T Bank, is a financial services company providing corporate trust, agency, asset management, and wealth management services. It manages over $130 billion in client assets and serves institutional and high-net-worth clients globally, including those in the infrastructure sector.

K

KeyBank National Association

company

KeyBank National Association, through its investment banking arm KeyBanc Capital Markets, is a leading financial services provider for the infrastructure sector, primarily focused on North America. It offers project finance, corporate finance, and M&A advisory services, with a strong emphasis on renewable energy, power, utilities, and digital infrastructure.

advisor

Deutsche Bank

company · 3 deals

Deutsche Bank is a global financial institution that provides a range of financial services to corporations, institutions, and private clients. It focuses on sustainable and transition finance, aiming to support the low-carbon transition and ecosystem conservation.

parent_company

Flexential

company

Flexential is a U.S.-based data center and hybrid IT solutions provider operating 41 highly-resilient data centers with over 200 MW of power capacity across the United States. It offers colocation, cloud, connectivity, and managed services to over 13,000 customers.