Manulife IM-backed Serverfarm Closes $589 Million Inaugural Asset-Backed Securities Offering

19 Institutional Investors Support Transaction Secured by Stabilized Hyperscale Portfolio

Published on Feb. 15, 2026

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Serverfarm, a leading developer of large-scale, high-performance data center infrastructure, announced that it successfully completed its inaugural asset-backed securities (ABS) offering in December 2025, issuing $589 million of notes rated by S&P Global Ratings. The transaction demonstrates strong institutional confidence in Serverfarm's operational excellence and provides additional capital flexibility as the company accelerates hyperscale campus developments across strategic North American markets.

Why it matters

The successful ABS offering validates Serverfarm's position as a leading provider of mission-critical data center infrastructure, particularly as demand for AI-ready, hyperscale facilities continues to grow. The capital raised will allow Serverfarm to further expand its portfolio and support the digital transformation needs of major cloud providers and AI innovators.

The details

The $589 million ABS offering includes $543 million of 5.377% A- rated Notes and $46 million of 5.866% BBB- rated Notes, with an anticipated repayment date of November 2030. The transaction was supported by 19 institutional investors, with Morgan Stanley serving as Sole Structuring Agent and Lead Left Bookrunner, and RBC Capital Markets, TD Securities, and Truist Securities as Joint Active Bookrunners.

  • Serverfarm successfully completed its inaugural ABS offering in December 2025.
  • The anticipated repayment date for the notes is November 2030.

The players

Serverfarm

A leading developer of large-scale, high-performance data center infrastructure, specializing in AI-ready data centers, build-to-suit facilities, and hyperscale campus development globally.

Manulife Investment Management

The global wealth and asset management arm of Manulife Financial Corporation, which backs Serverfarm and provides capital for the company's expansion plans.

Morgan Stanley

The investment bank that served as Sole Structuring Agent and Lead Left Bookrunner for Serverfarm's ABS offering.

Avner Papouchado

The CEO of Serverfarm.

Recep Kendircioglu

The Global Head of Infrastructure at Manulife Investment Management.

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What they’re saying

“This inaugural ABS issuance validates Serverfarm's track record of delivering world-class hyperscale infrastructure with operational excellence.”

— Avner Papouchado, CEO of Serverfarm (EINPresswire)

“Capital recycling is a critical component of Serverfarm's financing strategy and sustainable growth plans.”

— Recep Kendircioglu, Global Head of Infrastructure, Manulife Investment Management (EINPresswire)

What’s next

Serverfarm plans to use the capital raised from the ABS offering to fund the aggressive expansion of its AI-ready hyperscale infrastructure across strategic North American markets.

The takeaway

Serverfarm's successful ABS offering demonstrates the strong institutional confidence in the company's operational capabilities and positions it for continued growth in the rapidly evolving data center and hyperscale infrastructure market.