U.S based data center facilitator Vantage will be expanding their data centers with a USD 1.1B investment. With this expansion, Vantage seek to grow into other markets within the country in a bid to add more industries to their portfolio.
Vantage say that they have raised the billion dollar amount with the help of securitization financing, an approach that will allow them to pay lower interest rates and in turn have fatter profit margins. They also say that a major part of this investment will go into paying off debts to their banks and investors with more than USD 500M left for data center expansion.
According to Vantage, the data center market is picking up in other parts of the U.S. They further added that this trend paves the way for their expansion plan to be realized. By keeping a strong hold on the current market, Vantage say that they will look for greener pastures in other markets within the country.
Speaking about the expansion plan, Sureel Choksi, Vice President and CEO of vantage, commented:
Vantage continues to lead the way with the data center’s first ever securitization financing. We were thrilled with the strong response from investors for this offering, which we believe speaks both to the high quality and growth prospects of Vantage’s business.
Vantage now has over $500 million in available funding to finance growth in existing markets and accelerate new market expansion.