Switch Raises $768 Million Through Asset-Backed Securities Offering

Data center operator expands securitized portfolio with new Nevada facility

Apr. 14, 2026 at 8:53pm

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A high-contrast black and white close-up image of the intricate machinery and infrastructure inside a modern data center, conveying the industrial power and complexity of the data center industry.Switch's latest asset-backed securities offering expands its portfolio of sustainable, high-capacity data centers, reflecting the industry's growing scale and technological sophistication.Reno Today

Switch, a leading data center provider, has announced the closing of an asset-backed securities (ABS) offering, raising approximately $768 million through its Series 2026-1 issuance. The transaction adds a new 1.4 million square foot data center in Reno, Nevada to Switch's securitized portfolio, expanding the company's geographic reach and diversification.

Why it matters

This latest ABS offering highlights Switch's ability to access capital markets and continue investing in its data center infrastructure. The addition of the Reno facility further strengthens Switch's platform, which now includes 11 data centers across five U.S. markets serving over 550 customers, many of whom have investment-grade credit profiles.

The details

The Class A-2 Notes from the Series 2026-1 issuance are rated AAA (sf), AA (low) and A (low) by DBRS Morningstar, with an anticipated repayment date of March 2031. Net proceeds will be used to repay existing debt and for general corporate purposes. The new Reno data center contributes more than 52 MW of capacity to the securitized portfolio. This transaction represents Switch's fifth ABS issuance since 2024, bringing the company's total ABS issuance during that period to approximately $4.2 billion.

  • Switch announced the closing of the asset-backed securities offering on April 14, 2026.

The players

Switch

A leading data center operator that provides colocation and infrastructure services to over 550 customers across its platform of 11 data centers in five U.S. markets.

DBRS Morningstar

A global credit ratings agency that assigned the AAA (sf), AA (low) and A (low) ratings to Switch's Class A-2 Notes.

Barclays

One of the co-structuring advisors and joint active bookrunning managers for Switch's ABS offering.

Citigroup

One of the co-structuring advisors and joint active bookrunning managers for Switch's ABS offering.

BMO Capital Markets

One of the joint active bookrunning managers for Switch's ABS offering.

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The takeaway

Switch's latest asset-backed securities offering demonstrates the company's ability to access capital markets and continue investing in its data center infrastructure. The addition of the Reno facility expands Switch's geographic reach and diversification, further strengthening its platform as a leading provider of colocation and infrastructure services.