Kirkland Advises Switch Data Centers on $1.1 Billion Securitization Financing
Kirkland & Ellis advised data center operator Switch, a portfolio company of Digital Bridge and IFM, on a $1.1 billion Asset Backed Security (ABS) issuance. The ABS offering of $1.1 billion is the third in company’s master trust, which now totals $2.8 billion, and was the largest green data center ABS transaction ever completed. The proceeds, along with a $2.4 billion CMBS offering, will refinance the majority of the company’s outstanding acquisition financing, which supported the take-private transaction led by DigitalBridge and IFM Investors in December 2022.
Read the transaction press release
The team included structured finance lawyers Kelly Mellecker, John Harrison, Wilson Carneiro, Suril Patel, Michael Urschel and Devin Savaskan; real estate lawyer Rob Katsnelson; tax lawyers Jon Nelsen, Richard Husseini and Ben Schreiner; capital markets lawyer Leia Andrew; investment funds ERISA lawyers Alec Bodendorfer and Joe Lifsics; and investment funds regulatory lawyer Phil Giglio.
