Toronto Data Center Considers C$320 Million ABS Deal
Urbacon Data Centre Solutions, a Toronto-based data center operator, is considering a C$320 million ($233 million) asset-backed securities (ABS) deal. The financing would be secured by a newly constructed 18-megawatt data center located in Toronto. The deal is still in the planning stages, and the details have not been finalized. The move aims to raise capital for the company's operations and future expansion plans. The data center industry has seen increased demand, particularly during the COVID-19 pandemic, as more businesses have shifted to remote work and online services. The proposed ABS deal would provide Urbacon with additional funding to meet this growing need for data center capacity in the Toronto region.
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