Switch has significantly expanded its financial foundation, announcing a $10 billion upsizing across its Borrowing Base and Revolving Credit Facilities. This brings the company’s total capital raised since 2024 to $20 billion, making it one of the largest sustainable financing efforts in the digital infrastructure sector. The funding mix includes sustainability-linked loans, green bonds, green loans, CMBS and ABS transactions, and project-level infrastructure financings.
Proceeds are earmarked for growth of Switch’s fully contracted campus developments, refinancing acquisition-related debt from its 2022 take-private transaction, and reducing cost of capital. The capital will also support rollout of Switch’s EVO AI Factories—data centers purpose-built for high-density AI, hyperscale cloud, and enterprise workloads. These facilities, aligned with NVIDIA’s DGX and MGX roadmaps, support up to 2 MW per rack with hybrid air-liquid cooling and are currently under construction across all five Switch campuses.
Led by TD Securities and J.P. Morgan, the expansion drew oversubscription from a diverse group of global lenders. The facilities reflect institutional confidence in Switch’s business model, backed by long-term customer commitments and a pipeline of fully secured developments. The company’s emphasis on sustainable finance was reinforced by ING and TD Securities serving as Sustainability Coordinators across multiple tranches.
- $10B expansion of credit facilities brings total raised since 2024 to $20B
- Includes green bonds, sustainability-linked loans, ABS, CMBS, and project financing
- Capital supports AI-focused EVO Factories at five Switch campuses
- 100% of acquisition-related bank debt from 2022 now retired
- Oversubscribed financing led by TD Securities, J.P. Morgan, ING, and others
“As digital infrastructure becomes more critical to enabling AI and next-generation technologies, our focus remains on delivering performance and reliability at scale,” said Thomas Morton, President of Switch.
