Switch has closed its fourth asset-backed securities (ABS) offering, raising nearly $659 million, which brings its total ABS issuance to approximately $3.5 billion. This makes Switch the largest single issuer of data center ABS since 2024. 

Since all of Switch's ABS issuances qualify as secured green bonds, they reflect the company’s dedication to sustainability and responsible growth.

Switch will use the process to fuel its growth strategy, which includes ongoing development at each of its five campuses for hyperscale, AI, and enterprise customers.

In July 2025, Switch announced it had retired all $6.5 billion of bank debt incurred during its 2022 take-private. This ABS issuance marks Switch's first securitization with proceeds dedicated entirely to fund new development.

Madonna Park, Chief Financial Officer of Switch, said that as its Tier 1 exascale campus deployments continue to ramp, it will continue to leverage ABS facilities.

"As our deep pipeline of fully leased multi-tenant and Hyperscale assets continues to stabilize, we expect to remain an active issuer across the ABS and broader capital markets."

For related articles, visit the Data Center Topic Center.
For more information on high-speed transmission systems and suppliers, visit the Lightwave Buyer’s Guide.
To stay abreast of fiber network deployments, subscribe to Lightwave’s Service Providers and Datacom/Data Center newsletters.