DataBank, a colocation, interconnection, and managed cloud services provider, announced on Feb. 15 that it has issued $456 million of secured notes, the company’s first green bond.
The securitization is DataBank’s fourth in the past three years, following $658 million of notes issued in March 2021, $330 million in October 2021, and $715 million in March 2023, and brings its total securitized portfolio to $2.16 billion.
DataBank’s president and CEO, Kevin Ooley, said in a press release, “This financing reflects not only DataBank’s commitment to sustainability and efficiency but also the tremendous growth opportunity ahead of us and the value and stability of our portfolio’s earnings. It signals the strong endorsement of investors in our strategy, footprint, and ability to execute profitably across that entire portfolio.”
DataBank reports that the proceeds will be used to refinance a previous bridge loan used to purchase four data centers in 2022 and to fund the development of additional data center capacity.
To qualify as a green bond, the refinanced facilities meet specific sustainability criteria for water conservation, carbon emissions, and Power Usage Effectiveness (PUE).
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