EdgeCore Digital Infrastructure has completed a 521 million dollar asset backed securitisation, the company announced on October 28. The issuance, made up of designated green bonds under EdgeCore’s Green Financing Framework, is backed by SV01, its fully stabilised data centre on its Santa Clara, California campus, which offers 36 megawatts of IT capacity across 255,200 square feet.
Proceeds will refinance construction loans and fund future green data centre development. MUFG led the transaction as sole structuring advisor, with ING and MUFG as joint book running managers and First Citizens Capital Securities and Huntington Capital Markets as co-managers. At full build out the two building Santa Clara campus will total 72 megawatts across 540,000 square feet.
This is EdgeCore’s second ABS issuance, following last year’s 235 million dollar raise secured against PH01 in Phoenix, Arizona, at 26 megawatts. Combined, the two deals finance 62 megawatts of IT capacity, and both facilities are fully leased to the same high investment grade hyperscale tenant.
EdgeCore, launched in 2018 and acquired by Partners Group in 2022, has facilities in operation and development in Silicon Valley, Phoenix, Reno and multiple sites in Virginia. Executive Vice President of Finance Julie Brewer said the financing signals that EdgeCore continues to deliver capacity with certainty despite industry wide delays in power delivery, supply chain and capital deployment.