DigitalBridge to use debt financing for purchase of Switch

By Sara Rosenberg

New York, May 11 – DigitalBridge Partners II is using new debt financing to help fund its acquisition of Switch Inc., according to a news release.

The debt financing was led by TD Securities along with joint lead arrangers and joint bookrunners Societe Generale, RBC Capital Markets and Citizens Bank.

Under the agreement, Switch is being bought for $34.25 per share in an all-cash transaction valued at about $11 billion, including the assumption of debt.

Closing is expected in the second half of this year, subject to approval by Switch stockholders and the satisfaction of other customary conditions.

Digital Bridge is a Boca Raton, Fla.-based digital infrastructure firm. Switch is a Las Vegas-based exascale technology infrastructure corporation.

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