Vantage Data Centers, a provider of hyperscale data centre campuses, has announced it has raised €640 million in securitised term notes, marking the first-ever euro-based securitisation of data centre 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 undertaking last year with the first-ever EMEA data centre ABS (Asset-Backed Securitisation) completed in British pound sterling.
The notes will be used to refinance four data centres in Germany – two in Offenbach (Frankfurt) and two in Berlin – all of which are leased to hyperscale customers. The refinancing is part of Vantage’s wider efforts to 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 towards 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 centre sector marks a significant milestone in digital infrastructure financing. Having previously issued the first data centre 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,” says Rich Cosgray, Senior Vice President, Global Capital Markets for Vantage Data Centers.
Vantage was represented by Clifford Chance, and the transaction was led by Barclays and Deutsche Bank as active Joint Lead Managers. It 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 aim to facilitate the innovation of next-generation sustainable solutions aimed at reducing Vantage’s environmental impact.
Over the last 12 months, Vantage has raised €2.2 billion in new debt financing for its EMEA platform.
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