QTS, a data-center operator backed by Blackstone Inc., is looking to raise around $800 million through a private placement of debt, as Wall Street looks to every corner of global credit to finance artificial intelligence infrastructure. The company would sell the securities through a special-purpose entity called QTS Thunder Managing Issuer LLC, with pricing expected as soon as this week, according to people familiar with the matter who couldn’t be identified discussing confidential information.
Mizuho Financial Group, Natixis, Societe Generale SA and Wells Fargo & Co. are arranging the debt, which may mature in seven to 15 years, they said. QTS is tapping the market in part to refinance existing debt, one of the people added. Representatives for QTS, Mizuho, and Natixis didn’t respond to a request for comment. Blackstone, Soc Gen and Wells Fargo declined to comment.
QTS, which was acquired by Blackstone in 2021 for $10 billion, has tapped several pools of capital as it develops data centers across the country. This includes private placements, where bonds are typically bought by life insurers and asset managers.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing