How Data Center Debt Financing Is Evolving
The data center debt market is becoming more competitive as banks and credit funds all deploy capital across construction and stabilised assets. With senior debt pricing tight, he noted that lenders are increasingly looking at second‑lien and holdco structures to enhance returns, supported by strong contracts and cash flows. He also flagged the growing gap between bank and ABS financing, and the unanswered question of how large volumes of construction debt will ultimately be refinanced as projects reach completion.
