Natixis Corporate & Investment Banking Leads Landmark $2.6 Billion Syndicated Letter of Credit Facility to Power Switch's Data Center Growth

Natixis Corporate & Investment Banking (Natixis CIB), acting as structuring bank, initial coordinating lead arranger, joint bookrunner, and facility agent, is pleased to announce the closing of a $2.6 billion syndicated Letter of Credit Facility ("LCF") for Data Center Power Infrastructure for Switch. In response to the escalating demand for sustainable power in the digital infrastructure sector, this syndicated facility is the largest U.S. dollar-denominated of its kind and unprecedented for the data center industry. It will support power procurement and provide credit backing for new transmission and generation resources.

Switch is a global leader in AI, cloud, and enterprise data center infrastructure. The LCF further strengthens Switch's ability to develop gigawatt-scale campuses in major U.S. markets and aligns with Switch's broader strategy to deliver sustainable infrastructure at scale.

"As power becomes more critical to enabling AI and next-generation data centers, our facility will allow Switch to secure power generation and transmission capacity for data center developments," said Arnaud Stevens, Head of Global Trade, Americas at Natixis CIB. "This first-of-its-kind transaction in the data center sector will provide Switch the flexibility and access to capital to best position the firm to secure reliable gigawatts of electricity and for continued growth. The exceptional collaboration with our 10 esteemed banking partners, whose expertise and commitment were instrumental, further ensured the success of this milestone."

"We are very pleased that we were able to support Switch as structuring bank on this milestone transaction", said Pim Rothweiler, Head of Telecom & Tech Americas, Natixis CIB. "It shows how Natixis continues to be at the forefront of demonstrating leadership and expertise with innovative financing solutions that address the critical power needs of our clients in the digital infrastructure sector."

Switch is a global leader in AI, cloud, and enterprise data center infrastructure. For more information, visit Switch's press release here: Switch Secures Landmark $2.6 Billion Syndicated Letter of Credit Facility