Switch enhances its liquidity position to support new project development
On September 12, data center provider Switch announced that it has closed on its $4.25 billion sustainability-linked Borrowing Base Facility (BBF) and upsized its Revolving Credit Facility (RCF) to $770 million. The company reported the proceeds will position it for enterprise, hyperscale cloud, and AI growth opportunities.
According to Switch, proceeds from the BBF consist of a $3.5 billion revolving credit facility and a $750 million term loan; these proceeds will be used to fund the development of new projects and refinancing a portion of the company’s debt. Funding from RCF will go towards general corporate purposes and working capital.
Thomas Morton, president of Switch, said the company is excited to enhance its liquidity position and support development.
“The series of financings we have completed this year ideally position us for growth opportunities at the forefront of cloud, AI, and enterprise while affirming our commitment to sustainability,” said Morton in a press release.
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Hayden Beeson
Hayden Beeson is a writer and editor with over seven years of experience in a variety of industries. Prior to joining Lightwave and Broadband Technology Report, he was the associate editor of Architectural SSL and LEDs Magazine.