At a glance
- KBRA assigned a preliminary A- rating to up to $525 million of proposed US Signal ABS.
- EdgeCore's closed deal and US Signal's proposed issuance total as much as $1.05 billion.
- The preliminary A- on the US Signal structure gives fund selectors a benchmark for regional colocation cash flows.
EdgeCore Digital Infrastructure closed a $521 million green asset-backed securitization on its 36-megawatt SV01 data center in Santa Clara. It is the operator's second securitization and more than double last year's $235 million Phoenix issue.
KBRA assigned a preliminary A- rating to up to $525 million of proposed US Signal ABS. The three-tranche structure is backed by ten existing colocation sites with $111.8 million of annualized recurring revenue and a 12% stressed terminal cap rate.
EdgeCore's closed deal and US Signal's proposed issuance total as much as $1.05 billion. For infrastructure debt allocators, they offer two live pricing anchors: a single-asset Santa Clara campus and a ten-site regional colocation portfolio from US Signal, an Igneo-backed operator.
The preliminary A- on the US Signal structure gives fund selectors a benchmark for regional colocation cash flows. EdgeCore's deal shows a green label can be attached to single-asset data-center ABS.
Reported by The Wrap desk from EdgeCore announcement, KBRA rating action and Foundation Credit announcement. Published . Corrections