Simpson Thacher & Bartlett LLP‘s securitization practice maintains strong capabilities in asset securitization products, such as bank credit card receivables, data center revenue, whole business securitizations, future revenue streams, asset-backed commercial papers, and other sophisticated asset classes, and operate in various transactions that involving data centers, digital infrastructure, and vehicles. New York-based John Schueller heads the practice, and is sought after for his broad securitization expertise, advising underwriters, issuers, acquisition parties, syndicated loa managers and borrowers of securitized facilities. The team’s capacity is bolstered by the Washington DC-based Katherine Draper, who was promoted to partner, and whose portfolio of clients includes various actors in the digital infrastructure and data center sectors, including Vantage Data Centers, DataBank Holdings and TierPoint.
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Profile

Key clients

  • ALLO Communications
  • DataBank Holdings
  • ExteNet Systems
  • Flexential Corp.
  • KKR
  • MassMutual
  • Stonepeak
  • Switch
  • TierPoint
  • Vantage Data Centers Issuer, LLC

Work highlights

  • Represented CenterSquare Issuer LLC and CenterSquare Co-Issuer LLC in connection with their $400 million offering of 5.200% Secured Data Center Revenue Term Notes, Series 2024-1, Class A-2; $85 million offering of 5.600% Secured Data Center Revenue Term Notes, Series 2024-1, Class B; and $400 million offering of 5.400% Secured Data Center Revenue Term Notes, Series 2024-2, Class A-2.
  • Represented Switch ABS Issuer, LLC and Switch ABS Co-Issuer, LLC in connection with their debt offering of $657.6 million of 6.280% Secured Data Center Revenue Term Notes, Series 2024-1, Class A-2 and $94.2 million of 6.500% Secured Data Center Revenue Term Notes, Series 2024-1, Class B.
  • Represented the lending banks in connection with the structuring and installation of a new $3.0 billion asset-backed vehicle fleet lease warehouse credit facility for Element Fleet Corporation.

Lawyers

Practice head

John Schueller

Other key lawyers

Katherine Draper