What QTS is doing
QTS, the data center operator owned by Blackstone Inc., is preparing a private placement of around $800 million. The securities will be issued via a special-purpose vehicle called QTS Thunder Managing Issuer LLC, and people familiar with the matter, who requested anonymity because the details are confidential, said pricing could come as early as this week.
Who is involved and why it matters
Mizuho Financial Group, Natixis, Societe Generale SA and Wells Fargo & Co. are leading the financing. According to a person briefed on the plan, QTS is accessing the market partly to refinance some of its existing borrowings. QTS, Mizuho and Natixis did not respond to requests for comment, while Blackstone, Societe Generale and Wells Fargo declined to comment. The broader backdrop: Wall Street is reaching across global credit markets to fund artificial intelligence infrastructure.
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How QTS has financed growth
Blackstone acquired QTS in 2021 for $10 billion. Since then, the operator has tapped multiple capital sources while building data centers across the U.S., including private placements that are most often purchased by life insurance companies and asset managers. The pending notes may carry maturities between seven and 15 years.
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