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DataBank Completes $757.89 Million Secured Data Center Revenue Notes Issuance

03.22.21

The Firm represented special-purpose subsidiaries of DataBank Holdings Ltd. in connection with an offering of up to $757.89 million of aggregate principal amount of Secured Data Center Revenue Notes, consisting of up to $100 million of aggregate principal amount of Series 2021-1 Class A-1 Secured Data Center Revenue Variable Funding Notes, $553.6 million of aggregate principal amount of Series 2021-1 Class A-2 Secured Data Center Revenue Term Notes, $44.54 million of aggregate principal amount of Series 2021-1 Class B Secured Data Center Revenue Term Notes and $59.75 million of aggregate principal amount of Series 2021-1 Class C Secured Data Center Revenue Term Notes.  This is the first ever securitization financing multi-tenant, enterprise-focused data centers.

DataBank provides highly scalable, customizable data center solutions, including colocation, network and connectivity services and managed and cloud services in support of enterprise technology companies, network and cloud service providers and other internet and media companies.

The Simpson Thacher team included John Schueller, William Sutton, Kate Draper, Carlie Marks and Jae Hong (Capital Markets); Jonathan Cantor, Eli Shalam and Kris Liu (Tax); Jeanne Annarumma (ERISA); Krista McManus, Dennis Loiacono and Leah Mansher (Real Estate); Jonathan Pall (Collateral); and Michael Isby (Environmental).