Tech Infrastructure Financing Comes at a High Cost, Blackstone's QTS Issues Investment-Grade Bonds at Junk-Bond Rates, Subscriptions Reach Six Times
Blackstone's QTS Realty Trust completed a $3.9 billion investment-grade bond issuance to finance Microsoft's data center in Georgia. Despite subscription multiples reaching as high as six times, far…
Blackstone's QTS Realty Trust completed a $3.9 billion investment-grade bond issuance to finance Microsoft's data center in Georgia. Despite subscription multiples reaching as high as six times, far exceeding the average for blue-chip bonds, the final yield still reached as high as 7.228%, close to junk-bond levels, with only 40 basis points of compression.
Original: https://wallstreetcn.com/articles/3779738
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