DataBank Issues $456 Million Secured Notes for Green Financing and Data Center Expansion
DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed cloud services, announced on February 15, 2024, that it has issued $456 million of secured notes. This is the company's fourth securitization since 2021 and its first green financing, bringing the total securitized portfolio to $2.16 billion of investment-grade bonds. The proceeds will be used to refinance a previous loan used to purchase four data centers in Houston in 2022 and to fund the development of additional data center capacity. The facilities being refinanced had to meet specific sustainability criteria for water conservation, carbon emissions reduction, and a low Power Usage Effectiveness (PUE) to qualify as a green bond. These projects contribute to DataBank's goal of being carbon neutral by 2030. The company operates the largest portfolio of data centers in the U.S. with over 65 data centers in more than 27 metro markets.