TierPoint, a leading provider of secure, connected IT platform solutions, announced on July 10, 2023, the completion of an asset-backed securities (ABS) issuance to support the company’s growth and development. This marks the largest ABS issuance in the U.S. data center sector since 2021. TierPoint issued $835 million green ABS term notes as part of a debut $1.06 billion entrance into the U.S. ABS market. The net proceeds will be used to pay off the company’s senior secured term loan and revolver and for working capital. This financing strengthens TierPoint's balance sheet, allowing it to deploy more data center capacity to meet accelerating demand in current and new markets.