Originally posted to Data Center POST
STACK INFRASTRUCTURE, the digital infrastructure partner to the world’s most innovative companies, recently announced that it has closed on the issuance of $325 million of securitized notes. The structured debt financing is issued at a coupon of 1.893 percent, which stands as the lowest securitized rate in the history of the data center industry, breaking the Company’s own record for lowest rate set in November, 2019. The notes are rated “A-” by Standard & Poor’s.
“As the STACK platform has continued to scale, we’ve seen unprecedented levels of investor demand, which stands as a testament to the Company’s credible growth strategy and our ability to support the accelerated momentum of the hyperscale and cloud data center market,” said Heather Paduck, Chief Financial Officer. “We are committed to driving value for our clients above all else, and that partnership continues to fuel our success.”
STACK is a programmatic asset-backed securities issuer. When combined with the Company’s securitization issuances in February and November of 2019, this latest round of debt capital means that STACK has raised more than $1.4 billion to date. This financing underscores STACK’s impressive momentum in the data center market and reaffirms the widely recognized acceleration of data center absorption across the United States as a result of the global pandemic. COVID-19 has created an enhanced dependence on digital solutions and bolstered the digital economy, driving greater investor interest in data centers as data demands expand rapidly to support work-from-home strategies and collaborative online tools and platforms. STACK continues to serve as an industry leader, facilitating its clients’ success as they look to meet these evolving end-user demands.
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