Sabey Data Centers has raised $175 million through issuing securitized notes.
The company says it is the only data center issuer to offer investors notes rated “A+” by Standard & Poor’s, and issued the notes at a fixed rate coupon of 1.881 percent, which it said was a sector record for the lowest new issue spread to benchmark rates.
“This issuance allows us to continue to grow as we bring the industry’s best and most sustainable data center solutions to the world’s most demanding data center customers,” said Robert Rockwood, president of Sabey Data Centers.
A joint venture between Sabey Corporation and National Real Estate Advisors (NREA), Sabey Data Centers has raised $975 million through securitized financing in the last 18 months, having issued $800 million in notes in May 2020.
Guggenheim Securities acted as sole structuring advisor and sole book-running manager on this week’s transaction.
“Sabey’s recent issuance was extremely well received by the market representing the quickest marketing time-frame for the sector,” added Sabey Corp CFO Patty Sewell, who added such funding will allow Sabey to continue to cost-effectively finance customer-driven expansion for years to come.
Earlier this year, Dutch investment firm Bouwinvest Real Estate Investors invested $60 million in Sabey. The company also landed a $250 million refinancing deal for its office and data center at 375 Pearl Street in New York City last month.