Simpson Thacher represented affiliates of QualityTech, LP (“QTS”), in connection with an inaugural construction Rule 144A/Regulation S offering of $3.9 billion aggregate principal amount of Senior Secured Notes due 2031. The net proceeds of the offering will be used to fund and/or capitalize the construction, development and operation of a portion of a data center campus, with disbursements covering investments in projects pursuant to the QTS Green Finance Framework and for general corporate purposes. The offering closed on August 27, 2026. Simpson Thacher also recently represented QTS in connection with an inaugural syndicated term loan facility with an aggregate principal amount of $3.25 billion, backed by a portfolio of completed and fully leased data centers that closed in July 2026.
QTS is a leading provider of data center solutions to some of the world’s largest and most sophisticated hyperscale technology companies, enterprises and government agencies. It operates more than 100 data centers across over 20 markets with approximately 99% occupancy. QTS is supported by over 2,000 employees and a robust land bank and global development pipeline, positioning it among the largest data center platforms in North America. Through its technology-enabled platform, delivered across mega-scale data center infrastructure, QTS offers a comprehensive portfolio of secure and compliant information technology solutions. In 2021, QTS was acquired by Blackstone in a $10 billion privatization through perpetual capital real estate and infrastructure funds.
The Simpson Thacher team included Jonathan Ozner, Ignacio Perez, Joseph Hahn, Minaal E. Wickremesinghe, Cindy Yao and Gulfam Dhillon (Capital Markets); Sam Saunders, Marten Olsson, Khushboo Agarwal, Ike Obioma, Emma Li and Sam Curry (Energy & Infrastructure Finance); Whitney Salinas, Sam Rudik, Ari Goldman and Tiffani Banks (Real Estate); Jonathan Cantor and Benjamin Bressler (Tax); Toby Chun and Deepa Sarkar (Environmental); Jonathan Pall (Collateral); Matt Rogers and Elias Rosenblatt (M&A); Ron Ben-Yehuda and Alexander Kokka (IP); George Gerstein and Chris Torikoglu (ERISA); Andrew Blau, Scott Schilson and Sam Elmi (ECEB); Leah Malone and Taylor Cowan (ESG); and Abram Ellis, Claire Cahoon and Shuhao Fan (Regulatory). Summer associates Cindy Diaz and Daniel Sitbon-Taylor provided valuable assistance.