{"id":35182,"date":"2025-10-17T16:41:32","date_gmt":"2025-10-17T23:41:32","guid":{"rendered":"https:\/\/www.switch.com\/?p=35182"},"modified":"2026-01-02T12:18:09","modified_gmt":"2026-01-02T20:18:09","slug":"switch-raises-659-million-in-fourth-data-center-abs-offering","status":"publish","type":"post","link":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/","title":{"rendered":"Switch Raises $659 Million in Fourth Data Center ABS Offering"},"content":{"rendered":"\n

Market-leading data center ABS issuer with $3.5 billion in ABS proceeds raised since 2024<\/em><\/p>\n\n\n\n

LAS VEGAS – October 20, 2025 <\/strong>– Switch, a premier provider of AI, cloud and enterprise data centers, today announced the closing of its fourth asset-backed securities (“ABS”) offering, raising nearly $659 million. The Class A-2 Notes are rated AAA, AA (low), A (low)and the Class B Notes are rated BBB (low) by DBRS Morningstar. This transaction marks Switch\u2019s fourth ABS offering, bringing total ABS issuance to approximately $3.5 billion and making Switch the largest single issuer of data center ABS since 2024. All of Switch\u2019s ABS issuances qualify as secured green bonds, underscoring the company\u2019s commitment to sustainability and responsible growth.<\/p>\n\n\n\n

Proceeds from this issuance will be used to fund Switch\u2019s growth strategy, which includes ongoing development at each of its five campuses for Hyperscale, AI, and enterprise customers. In July 2025, Switch announced<\/a> it had retired all $6.5 billion of bank debt incurred during its 2022 take-private. This ABS issuance marks Switch\u2019s first securitization with proceeds dedicated entirely to fund new development.<\/p>\n\n\n\n

This issuance reflects the strength and scalability of Switch\u2019s enterprise ABS platform, which now encompasses 10 data centers across four geographically diverse campuses, serving nearly 500 customers, with over 70% of revenue generated from tenants rated investment grade. These strong credit characteristics led Switch to introduce the first AAA-rated tranche in non-hyperscale data center ABS, marking a sector milestone that reinforces the company\u2019s leadership in data center capital markets.<\/p>\n\n\n\n

\u201cThe success of this transaction, and the overall growth of our platform, clearly demonstrate that our formula of leading-edge technology combined with exascale campus deployments in Tier 1 markets continues to resonate with customers and investors alike,\u201d said Madonna Park, Chief Financial Officer of Switch. “As our deep pipeline of fully leased multi-tenant and Hyperscale assets continues to stabilize, we expect to remain an active issuer across the ABS and broader capital markets.”<\/p>\n\n\n\n

\u201cWith roughly $6 billion of stabilized asset financings completed to date, we have the scale and track record to continue to efficiently recycle capital while supporting the largest AI, cloud and enterprise customers, as they grow with Switch,\u201d she added.<\/p>\n\n\n\n

In addition to closing its ABS transaction, Switch was recently awarded \u201c2025 Growth Story of the Year\u201d by TMT Finance. Switch has also received recognition this year for its capital markets achievements by IJ Global, PFIA and Proximo Infrastructure.<\/p>\n\n\n\n

Transaction Advisors and Counsel<\/strong><\/p>\n\n\n\n

Wells Fargo Securities, LLC served as Co-Structuring Advisor and Lead Left Bookrunner and RBC Capital Markets, LLC served as Co-Structuring Advisor and Joint Active Bookrunning Manager. Morgan Stanley, TD Securities and Truist served as Joint Active Bookrunning Managers. Kirkland & Ellis LLP advised Switch, and Latham & Watkins LLP represented the underwriters.<\/p>\n\n\n\n

About Switch<\/strong><\/p>\n\n\n\n

Switch, founded in 2000 by CEO Rob Roy, stands at the forefront as the leading data center campus designer, builder and operator. As the AI, cloud and enterprise data center experts, Switch provides the most modular, scalable and sustainable data centers to the most discerning clients. The company offers a comprehensive, future-proof portfolio ranging from highly dense liquid cooled AI to hyperscale cloud and the industry\u2019s highest rated and most-secure enterprise data centers. To learn more, visit www.switch.com<\/a> and follow Switch on  LinkedIn<\/a>, Facebook<\/a> and X<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"

Market-leading data center ABS issuer with $3.5 billion in ABS proceeds raised since 2024 LAS VEGAS – October 20, 2025 – Switch, a premier provider of AI, cloud and enterprise data centers, today announced the closing of its fourth asset-backed securities (“ABS”) offering, raising nearly $659 million. The Class A-2 Notes are rated AAA, AA […]<\/p>\n","protected":false},"author":5,"featured_media":35183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[136],"tags":[],"class_list":["post-35182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release"],"acf":[],"yoast_head":"\nSwitch Raises $659 Million in Fourth Data Center ABS Offering - Switch<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Switch Raises $659 Million in Fourth Data Center ABS Offering\" \/>\n<meta property=\"og:description\" content=\"Market-leading data center ABS issuer with $3.5 billion in ABS proceeds raised since 2024\" \/>\n<meta property=\"og:site_name\" content=\"Switch\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/facebook.com\/SwitchDataCenters\/\" \/>\n<meta property=\"article:published_time\" content=\"2025-10-17T23:41:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-01-02T20:18:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/10-25-ABS-Financing_Social.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"628\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Joshua Steenmeyer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Switch Raises $659 Million in Fourth Data Center ABS Offering\" \/>\n<meta name=\"twitter:description\" content=\"Market-leading data center ABS issuer with $3.5 billion in ABS proceeds raised since 2024\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/10-25-ABS-Financing_Social.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@switch\" \/>\n<meta name=\"twitter:site\" content=\"@switch\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Joshua Steenmeyer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/\"},\"author\":{\"name\":\"Joshua Steenmeyer\",\"@id\":\"https:\/\/www.switch.com\/#\/schema\/person\/ae8ca9859809851e4751d9e85f87a596\"},\"headline\":\"Switch Raises $659 Million in Fourth Data Center ABS Offering\",\"datePublished\":\"2025-10-17T23:41:32+00:00\",\"dateModified\":\"2026-01-02T20:18:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/\"},\"wordCount\":551,\"publisher\":{\"@id\":\"https:\/\/www.switch.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/Switch-ABS-Press-Image.jpg\",\"articleSection\":[\"Press Release\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/\",\"url\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/\",\"name\":\"Switch Raises $659 Million in Fourth Data Center ABS Offering - Switch\",\"isPartOf\":{\"@id\":\"https:\/\/www.switch.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/Switch-ABS-Press-Image.jpg\",\"datePublished\":\"2025-10-17T23:41:32+00:00\",\"dateModified\":\"2026-01-02T20:18:09+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#primaryimage\",\"url\":\"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/Switch-ABS-Press-Image.jpg\",\"contentUrl\":\"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/Switch-ABS-Press-Image.jpg\",\"width\":3840,\"height\":2160},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.switch.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Switch Raises $659 Million in Fourth Data Center ABS Offering\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.switch.com\/#website\",\"url\":\"https:\/\/www.switch.com\/\",\"name\":\"Switch\",\"description\":\"World-Renowned Data Centers and Technology Solution Ecosystems\",\"publisher\":{\"@id\":\"https:\/\/www.switch.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.switch.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.switch.com\/#organization\",\"name\":\"Switch\",\"url\":\"https:\/\/www.switch.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.switch.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.switch.com\/wp-content\/uploads\/2022\/07\/Switch-Logo-black.png\",\"contentUrl\":\"https:\/\/www.switch.com\/wp-content\/uploads\/2022\/07\/Switch-Logo-black.png\",\"width\":1200,\"height\":582,\"caption\":\"Switch\"},\"image\":{\"@id\":\"https:\/\/www.switch.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"http:\/\/facebook.com\/SwitchDataCenters\/\",\"https:\/\/x.com\/switch\",\"https:\/\/www.linkedin.com\/company\/switch-data-centers\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.switch.com\/#\/schema\/person\/ae8ca9859809851e4751d9e85f87a596\",\"name\":\"Joshua Steenmeyer\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.switch.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f430b75806db7fc7a6e13b4c248f4492?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f430b75806db7fc7a6e13b4c248f4492?s=96&d=mm&r=g\",\"caption\":\"Joshua Steenmeyer\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Switch Raises $659 Million in Fourth Data Center ABS Offering - Switch","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/","og_locale":"en_US","og_type":"article","og_title":"Switch Raises $659 Million in Fourth Data Center ABS Offering","og_description":"Market-leading data center ABS issuer with $3.5 billion in ABS proceeds raised since 2024","og_site_name":"Switch","article_publisher":"http:\/\/facebook.com\/SwitchDataCenters\/","article_published_time":"2025-10-17T23:41:32+00:00","article_modified_time":"2026-01-02T20:18:09+00:00","og_image":[{"width":1200,"height":628,"url":"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/10-25-ABS-Financing_Social.jpg","type":"image\/jpeg"}],"author":"Joshua Steenmeyer","twitter_card":"summary_large_image","twitter_title":"Switch Raises $659 Million in Fourth Data Center ABS Offering","twitter_description":"Market-leading data center ABS issuer with $3.5 billion in ABS proceeds raised since 2024","twitter_image":"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/10-25-ABS-Financing_Social.jpg","twitter_creator":"@switch","twitter_site":"@switch","twitter_misc":{"Written by":"Joshua Steenmeyer","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#article","isPartOf":{"@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/"},"author":{"name":"Joshua Steenmeyer","@id":"https:\/\/www.switch.com\/#\/schema\/person\/ae8ca9859809851e4751d9e85f87a596"},"headline":"Switch Raises $659 Million in Fourth Data Center ABS Offering","datePublished":"2025-10-17T23:41:32+00:00","dateModified":"2026-01-02T20:18:09+00:00","mainEntityOfPage":{"@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/"},"wordCount":551,"publisher":{"@id":"https:\/\/www.switch.com\/#organization"},"image":{"@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#primaryimage"},"thumbnailUrl":"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/Switch-ABS-Press-Image.jpg","articleSection":["Press Release"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/","url":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/","name":"Switch Raises $659 Million in Fourth Data Center ABS Offering - Switch","isPartOf":{"@id":"https:\/\/www.switch.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#primaryimage"},"image":{"@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#primaryimage"},"thumbnailUrl":"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/Switch-ABS-Press-Image.jpg","datePublished":"2025-10-17T23:41:32+00:00","dateModified":"2026-01-02T20:18:09+00:00","breadcrumb":{"@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#primaryimage","url":"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/Switch-ABS-Press-Image.jpg","contentUrl":"https:\/\/www.switch.com\/wp-content\/uploads\/2025\/10\/Switch-ABS-Press-Image.jpg","width":3840,"height":2160},{"@type":"BreadcrumbList","@id":"https:\/\/www.switch.com\/switch-raises-659-million-in-fourth-data-center-abs-offering\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.switch.com\/"},{"@type":"ListItem","position":2,"name":"Switch Raises $659 Million in Fourth Data Center ABS Offering"}]},{"@type":"WebSite","@id":"https:\/\/www.switch.com\/#website","url":"https:\/\/www.switch.com\/","name":"Switch","description":"World-Renowned Data Centers and Technology Solution Ecosystems","publisher":{"@id":"https:\/\/www.switch.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.switch.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.switch.com\/#organization","name":"Switch","url":"https:\/\/www.switch.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.switch.com\/#\/schema\/logo\/image\/","url":"https:\/\/www.switch.com\/wp-content\/uploads\/2022\/07\/Switch-Logo-black.png","contentUrl":"https:\/\/www.switch.com\/wp-content\/uploads\/2022\/07\/Switch-Logo-black.png","width":1200,"height":582,"caption":"Switch"},"image":{"@id":"https:\/\/www.switch.com\/#\/schema\/logo\/image\/"},"sameAs":["http:\/\/facebook.com\/SwitchDataCenters\/","https:\/\/x.com\/switch","https:\/\/www.linkedin.com\/company\/switch-data-centers\/"]},{"@type":"Person","@id":"https:\/\/www.switch.com\/#\/schema\/person\/ae8ca9859809851e4751d9e85f87a596","name":"Joshua Steenmeyer","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.switch.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/f430b75806db7fc7a6e13b4c248f4492?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f430b75806db7fc7a6e13b4c248f4492?s=96&d=mm&r=g","caption":"Joshua Steenmeyer"}}]}},"_links":{"self":[{"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/posts\/35182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/comments?post=35182"}],"version-history":[{"count":0,"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/posts\/35182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/media\/35183"}],"wp:attachment":[{"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/media?parent=35182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/categories?post=35182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.switch.com\/wp-json\/wp\/v2\/tags?post=35182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}