Vantage Data Centers has raised $692 million in new funding to expand its data center operations.
The Silicon Valley-based provider announced that in August it raised $548 million in new securitized notes and a further $144 million in project-based construction debt financing from a consortium of banks.
The proceeds will be used to refinance certain credit facilities, reducing interest expenses, and allowing the company to develop more data centers across North America, Vantage said.
This year’s funding, combined with financial moves in 2018, brings the total amount of money raised by Vantage to $1.8 billion, giving the company more than $385 million to be used toward data center expansions.
Sharif Metwalli, Vantage’s CFO, commented:
“Vantage continues to pioneer not only best-in-class data center infrastructure but also industry-leading capital formation and deployment strategies that together enable the company to meet the demands of our hyperscale customers.
Vantage’s Growth
Vantage was acquired by Digital Bridge Holdings in early 2017 for more than $1 billion. Previously, the firm was owned by Silver Lake Partners.
Silver Lake acquired the data centers from Intel in 2010 and rebranded the business at that time.
Since then, Vantage has completed a number of projects. Most recently, the company announced the completion of phase one of the Ashburn campus in Northern Virginia. The 42-acre campus is planned to host five data centers totaling 142MW and more than 1 million square feet once it’s fully developed.
In January, Vantage acquired Canada-based 4Degrees Colocation for approximately US$200 million.
