Kirkland Advises Switch on Raising $768 Million in Latest Data Center ABS Issuance
Kirkland & Ellis advised Switch, a premier provider of AI, cloud and enterprise data centers, on the closing of an asset-backed securities offering, raising approximately $768 million through its Series 2026-1 issuance. The Class A-2 Notes are rated AAA (sf), AA (low) and A (low) by DBRS Morningstar, with 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 adds a Reno, Nevada-based data center of approximately 1.4 million square feet to the securitized portfolio. The facility contributes more than 52 MW of capacity and expands the trust into a fifth geographic market, further enhancing its scale and diversification.
Read the transaction press release
The Kirkland team included 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.
