EdgeCore Digital Infrastructure has closed its latest debt financing. The company this week announced the completion of an asset-backed securitization (ABS), totaling $521 million. The ABS is comprised of designated green bonds. The issuance is backed by EdgeCore’s fully stabilized SV01 data center in Silicon Valley. Located at EdgeCore's Santa Clara campus in California, SV01 offers 36MW of IT capacity. EdgeCore broke ground on SV01 in January 2023 . The two-story facility offers 36MW across a total of 255,200 sq ft (23,700 sqm). The facility launched in September last year. At full build-out, the two-building campus will total 72MW of IT load across 540,000 sq ft (50,167 sqm). Proceeds from the ABS will be used to refinance construction loans and fund future data center development. “Today’s announcement of our second ABS financing is a strong signal to the market that EdgeCore continues to deliver data center capacity with certainty despite industrywide delays related to power delivery, supply chain activities and capital deployment,” said Julie Brewer, EVP of finance, EdgeCore Digital Infrastructure. “EdgeCore’s exponential growth is supported by the strong financial backing of our owner, Partners Group, and our ability to raise funds through strategies such as this asset-backed securitization.” ABS is a type of financial investment that is collateralized by an underlying pool of assets – in this case, data centers. The transaction was led by MUFG as sole structuring advisor, with ING and MUFG acting as joint book-running managers. This is EdgeCore’s second ABS issuance, following last year’s raise. That deal saw the company raise $235 million, secured against EdgeCore’s fully stabilized PH01 data center, located in Phoenix, Arizona, and totaling 26MW. Both facilities are fully leased to the same high investment-grade hyperscale tenant. Launched in 2018, EdgeCore was acquired by Partners Group in 2022 with plans to invest up to $1.2 billion to fund the acquisition and build-out of existing and future data center sites, and has been on a rapid expansion spree. The company currently has facilities in operation and development across Silicon Valley, California, Phoenix , Arizona, Reno, Nevada , and multiple sites in Virginia . "Since Partners Group acquired EdgeCore in late 2022, the company has grown into a scaled hyperscale platform serving the world's largest cloud and technology companies," said Fentress Boyse, Member of Management, Infrastructure, Partners Group. "EdgeCore's second ABS financing in as many years demonstrates the quality of the contracted cash flows the team has built and the depth of capital available to support the platform. This is a reflection of EdgeCore’s uncompromising delivery record in tandem with its focus on sustainability, community engagement, and safety." First Citizens Capital Securities and Huntington Capital Markets acted as co-managers. King & Spalding served as counsel to EdgeCore and Partners Group, and Milbank served as counsel to the underwriters.