ST. LOUIS, May 08, 2024 (GLOBE NEWSWIRE) -- TierPoint, a leading, national enterprise data center company and provider of secure, connected IT platform solutions that power digital transformation initiatives, today announced the completion of a new $550 million asset-backed securities issuance to support the company's continued growth and development. Through a wholly owned subsidiary, the company has now issued a total of $1.61 billion in asset-backed securities (ABS), inclusive of the new $550 million issuance and $1.06 billion issued in 2023. Last year's ABS issuance was the largest in the U.S. data center sector since 2021. Like last year's transaction, the new term notes were issued under the company's Green Finance Framework, demonstrating TierPoint's ongoing commitment to operating in accordance with environmental and sustainability principles. The new offering further enhances the company's investment grade credit profile (of which over 90% is rated A-), extends its debt maturities, lowers its long term cost of capital, and allows the company to deploy more data center capacity to meet accelerating demand in current and new markets. All the notes were rated investment grade by Kroll Bond Rating Agency and have a 30-year legal ...