Switch, a Las Vegas, NV-based provider of AI, cloud and enterprise data centers, closed on its $4.25 Billion sustainability-linked Borrowing Base Facility (BBF) and upsized its Revolving Credit Facility (RCF) to $770M.
In connection with the BBF transaction, J.P. Morgan and TD Securities served as Co-Structuring Agents and Joint Lead Arrangers, with ING Capital and TD Securities serving as Co-Sustainability Coordinators. TD Securities served as Left Lead Arranger on the RCF transaction and is the Administrative Agent for both the BBF and RCF.
Proceeds from the BBF, which consisted of a $3.5 Billion revolving credit facility and $750M term loan, will primarily be used to fund the development of new projects totaling over $5 Billion of total contract value across four campuses, as well as refinance a portion of the Company’s existing acquisition debt incurred in connection with its take-private by DigitalBridge and IFM Investors in December 2022.
The RCF will fund working capital and general corporate purposes.
The recently completed transactions will support Switch’s bookings momentum across its base of enterprise, hyperscale, and AI customers.
Founded in 2000 by CEO Rob Roy, Switch delivers a comprehensive portfolio solutions encompassing highly dense, liquid-cooled AI environments, hyperscale cloud infrastructure and highly secure enterprise data centers.
FinSMEs
16/09/2024