DLA Piper represented Stack Infrastructure, Inc., a wholesale data center company, in its issuance of US$400 million of securitized notes at a fixed rate coupon of 1.877%.
The rate breaks the company’s own record-setting rate of 1.893%, achieved during its August 2020 issuance of US$325 million of securitized notes, on which DLA Piper also advised.
Stack provides digital infrastructure to scale the world’s most innovative companies. An industry leader in the development of data centers built to the unique specifications of its hyperscale cloud and enterprise clients, Stack’s continued expansion is fueled by the widespread adoption of cloud infrastructure; the rise of new, workload-intensive technologies like artificial intelligence; cross-industry digital transformation; and the emerging need of every organization to support increasingly remote workforces. Its offerings include hyperscale campuses and build-to-suit data centers, immediately available wholesale commissioned capacity, and powered shell options.
Over four transactions, all of which DLA Piper has advised on, Stack has now raised a total of more than US$1.8 billion.
“It was a pleasure to bring our extensive experience in structured finance transactions and our deep understanding of the data center industry to partner again with Stack in its latest issuance of securitized notes,” said David Ridenour, the DLA Piper partner who led the firm’s deal team.
In addition to Ridenour (Washington, DC), the DLA Piper team advising Stack included partners Mark Yura, Tom Geraghty (both of Chicago), Rita Patel (Washington, DC) and Mark Friedman (Baltimore); of counsel Diane Auerbach (Washington, DC), Marshall Taylor (Los Angeles), Adrienne Scerbak (New York) and Marlene Bidelman (Atlanta); associates David Stone, Chris Serrano, Anebi Adoga, Charles Bell (all of Washington, DC), Skyler Anderson (San Diego) and Alexa Rubenstein (New York); and paralegal Shawn Parish (Washington, DC).
DLA Piper advises on all aspects of financing, across borders, sectors and financial products. With one of the largest teams of dedicated finance lawyers in the world and an established local law firm network, the firm helps clients realize their financial strategies in whichever markets they do business.