Its First Issuance Since 2023: Aligned Data Centers' Release on an Asset-Backed Securitization

On July 28, 2026, Aligned Data Centers said it had completed an issuance of asset-backed securities backed by four of its data center campuses. Its release says the net proceeds will fund its development pipeline, refinance upcoming debt maturities and satisfy reserve account requirements, and gives no split between the three.

Aligned Data Centers, which calls itself "a leading developer and operator of ultra-efficient data centers for hyperscale, cloud, and AI workloads," announced on July 28, 2026, in a release on its own site, that it had completed a new asset-backed securities issuance of $1.183 billion. It was the company's first such issuance since 2023. The transaction, the release says, was upsized by approximately 30% from its initial target of $905 million. Parts of the release follow, not the whole.

Notes Backed by Four Campuses

The securities come in two classes of term notes, Class A-2-I and Class B. "Both classes feature a five-year Anticipated Repayment Date (ARD), extending the Company's weighted average debt maturities." Four of the company's data center campuses back the transaction, and the release says the collateral pool "is supported by 14 enterprise customers."

The release says that "over 90% of the transaction's Annualized Adjusted Base Rent (AABR) is generated by large, investment-grade counter-parties." The release names no customer and no campus, and it gives no rating for either class of notes.

A holder of these notes learns from the release the share of rent from "large, investment-grade counter-parties," and not who those counter-parties are.

Where the Proceeds Go

The net proceeds, the release says, "will be deployed to fund Aligned's ongoing development pipeline, refinance upcoming debt maturities, and satisfy mandatory reserve account requirements." It does not say how the proceeds divide among the three, and it names no maturity. Refinancing is one use among them.

The issuance, the release says, secured commitments from institutional partners "that are both new to Aligned and new to the broader data center ABS market." The company presents it as reflecting "growing institutional demand for high-quality digital infrastructure investments backed by long-term customer commitments and mission-critical assets."

What maturities were coming up, and when?

Sources

Aligned Data Centers. Aligned Data Centers Completes $1.18 Billion Securitization Financing (the company's own release). 28 July 2026. company filing

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