Vantage Data Centers has raised £254 million ($339.5m) in securitized term notes to support its AI and cloud growth strategy across EMEA.

The new financing, which includes £200 million raised through a tap of its existing Class A-2 Notes and £54 million raised from a new Class B tranche, will be used to refinance indebtedness connected to CWL11 and CWL13 facilities on its 148MW CWL1 campus in Cardiff, Wales.

In 2024, Vantage issued £600 million in securitized notes to raise funds against the Cardiff development, reportedly the first European asset-backed securities issuance for a data center. The latest financing builds on this original issuance.

Vantage said the refinancing will support its “broader strategy to drive scale in the EMEA region and accelerate market entry to address growing demand for AI and cloud infrastructure.”

“This transaction marks another significant milestone in our strategy to support AI and cloud growth across the EMEA region,” said Rich Cosgray, senior vice president, capital markets at Vantage Data Centers.

“It’s our third ABS in Europe as we continue to expand our securitization program and underscores the continued investor confidence in our platform and in our commitment to delivering world-class, sustainable digital infrastructure for the world’s leading technology companies.”

Vantage’s Cardiff CWL1 campus is 46 acres (19 hectares), boasts three data centers, and covers an area of 2 million sq ft (186,000 sqm).

The data center company is also reportedly planning a new data center campus outside of Cardiff and was recently granted permission from the Vale of Glamorgan Council for the development of a data center on land north of the Ffordd Bro Tathan business park in St. Athan, west of Cardiff.