US Signal to raise up to $525m in ABS secured by ten data centers

US Signal is preparing an asset-backed securities offering of up to $525 million secured against ten of its own data centers spanning 427,990 sq ft and about 22.5MW of critical load. KBRA assigned a preliminary A- rating; the portfolio generates $111.8m in ARR and $63.8m in AANOI across 839 customers.

• Offering totals up to $525m, including $75m in Variable Funding Notes
• Ten data centers cover 427,990 sq ft and roughly 22.5MW of critical load
• Portfolio ARR is $111.8m, AANOI $63.8m, with 839 unique customers
• KBRA applied a stressed 12.0% terminal cap rate for secondary markets