Kirkland Advises Switch on $768 Million Data Center ABS Issuance

"Kirkland & Ellis advised Switch on a Series 2026-1 asset-backed securities offering that raised approximately $768 million. Net proceeds will be used to repay existing debt and for general corporate purposes. The transaction added a Reno, Nevada data center (~1.4 million sq ft; >52 MW) to the securitized portfolio, expanding the trust into a fifth geographic market."

Kirkland & Ellis advised Switch, a premier provider of AI, cloud and enterprise data centers. The firm advised on the closing of an asset-backed securities offering that raised approximately $768 million through Switch's Series 2026-1 issuance. The Class A-2 notes were rated AAA (sf), AA (low) and A (low) by DBRS Morningstar and carry an anticipated repayment date of March 2031. Net proceeds from the offering will be used to repay existing debt and for general corporate purposes. The transaction added a Reno, Nevada data center of approximately 1.4 million square feet to the securitized portfolio. The facility contributes more than 52 megawatts of capacity and expands the trust into a fifth geographic market, further enhancing its scale and diversification. Kirkland & Ellis represented Switch with a team composed by: structured finance lawyers Kelly Mellecker, John Harrison, Amer Mohiuddin, Kelli Johnson and Suril Patel; capital markets lawyers Ross Leff and Leia Andrew; real estate lawyers David Arbus and James Koenderman; and tax lawyers Ben Schreiner, Richard Husseini, Jon Nelsen and Matthew Buono.

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Kirkland Advises Switch on $768 Million Data Center ABS Issuance

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Kirkland Advises Switch on $768 Million Data Center ABS Issuance

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