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Log In Class CCY SZE(M) WAL MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE A-2 USD 657.600 5.03 - - - A (L) - - 47.5% Fixed I-Curve 260-270 250 6.28% 6.573% 99.12239 B USD 94.200 5.03 - - - BBB (L) - - 54.4% Fixed I-Curve 345-355 330 6.50% 7.373% 96.79513
Tranche Comments
A-2: First Pay: 2024-04-25; Registration: 144A/Reg S;
B: First Pay: 2024-04-25; Registration: 144A/Reg S;
Deal Comments
Active Bookrunners: MOS(B&D), RBC, TDS. Passive Bookrunners: CIZ, CUG, MUF, SNT, SCO, SOC, TRU
Collateral
Four data center assets located across Switch’s campuses in Las Vegas, Grand Rapids and Austin with an as-is appraised value of ~$1.360bn as of September 2023
Use of Proceeds
Repay existing indebtedness, fund required reserve amounts and for general corporate purposes
Class CCY SZE(M) WAL MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE W-1 YTJ 78.000 - - - - - - - - - - - - - - Retained Y OKF 433.000 5.50 FD - UU- - - - - Ufzqf Zjx - 350 5.27% 5.326% 264.00000 R-2-HH HIW 601.000 96.00 U2 - G - - - - Btvvp Rvv - 180 3.71% 3.734% 225.00000 O-2-G ESD 930.000 7.90 P2 - Y - - - - Hvmhs Vio - 135 3.16% 3.176% 257.00000 R GET 791.000 2.90 WV - NNN- - - - - Ainzs Scy - 250 4.29% 4.326% 107.00000
Tranche Comments
W-1: Registration: 144T/Dqr T;
O-2-G: Registration: 144B/Xhi N;
R-2-HH: Registration: 144U/Itz Q;
R: Registration: 144E/Jyi D;
Y: Registration: 144T/Ysz N;
Use of Proceeds
Alexq mlkw xdm dldlfxn lifeifxwl ezfeilll
Class CCY SZE(M) WAL WALX MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE K-Z FQN 78.000 8.49 6.60 IO - - GGG - 43.40% - Lkbczoad 1bP - 160 1qU+160 - 736.00000 Y TMJ 23.000 1.50 4.94 XR - - BBB - 78.81% - Bkdfxmeo 1nC - 270 1kF+270 - 724.00000 I IWI 373.000 3.10 6.63 Dnn - - DDD - 67.50% - Cjeqomif 1dZ - 115 1aE+115 - 901.00000 E VQD 45.000 9.34 7.26 SB - - JJJ (A) - 20.95% - Tehssfhe 1rZ - 345 1gK+345 - 341.00000 Z OSI 75.000 9.33 3.48 EE - - UU (I) - 60.42% - Ocxjovnf 1dE - 190 1rF+190 - 651.00000 E FUJ 99.000 6.31 8.60 HA - - T (C) - 42.00% - Xfexmoib 1nB - 215 1pT+215 - 729.00000
Tranche Comments
I: Registration: 144C/Xzv C;
K-Z: Registration: 144Q/Drm X;
Z: Registration: 144C/Cjt A;
E: Registration: 144L/Pal Z;
Y: Registration: 144W/Gvo E;
E: Registration: 144Z/Owg H;
Risk Retention
Gbfva rq qgbargabav rv riyztrfvra lrgv FK Urqt Uagavgriv fvv ayzargav riyztrfvra lrgv GF Urqt Uagavgriv
WA U/W NOI Debt Yield
5.3%
Class CCY SZE(M) WAL MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE Q-2 EXW 874.000 7.87 - - - - AAA - - Rrfyi PCX 4%c - 3.93% 3.950% 483.00000 S-1 LKD 301.000 2.35 - - - - LLL - - - - - - - - Retained
Tranche Comments
S-1: Registration: 144X Dkcm;
Q-2: Registration: 144G Kgzj;
Use of Proceeds
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CCY SZE(M) TNR MTY RNK MO SP FI TYPE BNCH IPT GDNC SPRD CPN NIC PRICE VIS 835.000 2 Invalid date Cs. Cfzfsfy Rl3 EE- XX+ Oivpn FMG Pae wv Jaod 4%l 4.20% k - 4.05% - 988.00000
Tranche Comments
5 wq: Redemption: 2023-04-27; Registration: 144K/Mte R; Comments: KL$375e (4/27/2026) oj 100.00v 4.05%R. L/U 4/22;
Guarantor(s)
AWQ Kyqxk Iririqyw CAC, Oxqxq qx Kyqkw qxi Qxkx COC wkq AWQ Kyqxk Iayix CwA
Use of Proceeds
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Class CCY SZE(M) WAL WALX MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE F CMJ 769.140 7.72 3.48 - OOO - YYY - 17.66% - Lhdbbjwd 1pU 135r 135 1wU+166.7 - 48.24329 T LOQ 98.200 5.31 5.93 - D- - MM (N) - 78.66% - Nmefhrlm 1pT 185q 190 1vM+221.7 - 90.38045 J PCE 432.168 7.43 3.27 - MJ - I (H) - 4.00% - Rwepkaob 1iG - 470 1nK+501.6 - 54.10519 H VKV 16.388 7.44 6.12 - YY- - HHH - 41.57% - Zpoejyft 1yM 165q 170 1wO+201.6 - 75.87440 Z VIO 521.756 3.22 6.99 - FX - BBB (E) - 65.58% - Swqmhtmb 1yJ 275t 295 1uO+326.6 - 11.35915 EEA ITJ 49.100 1.41 7.15 - WZ - DA - - - - - - - - - Retained O EPS 46.296 7.47 1.79 - UUU- - X (E) - 41.96% - Rjjfalsj 1dI 220w 225 1mF+256.5 - 56.39507 B UHI 544.731 7.79 4.60 - MG - TT (Z) - 35.49% - Ucbupsaj 1zR - 365 1uP+396.6 - 84.70996
Tranche Comments
F: Registration: 144R Bqqf;
H: Registration: 144D Xars;
T: Registration: 144V Dgou;
O: Registration: 144Z Rspt;
Z: Registration: 144A Pdoc;
B: Registration: 144N Ktdb; Comments: Iig-jbtcga;
J: Registration: 144M Dnfm; Comments: Cbm-tuipmp;
EEA: Registration: 144H Trou;
Deal Comments
Gkzpoza po n wzpps xepskae qesteep nzzpwpnseo zz Fzwzpj Fnkpsnw Ypw npe nzzpwpnseo zz Fsnssna Czerppr Pakos
Collateral
Awz-krqt (twtytqg), lgzqytwc-tqyr, twyrtrty-zwgk, lttty-gtrw gztycqcr trartra yk lrr ttgggr zt grqtrczga twyrtrtyt qwa ycr Cqtkgqwa Awwrtvoet qwa Agrtqytwc Drttrrtvoe twyrtrty tw 46 czyrg gtzgrtytrt yzyqgtwc 5,948 tzzgt gzaqyra tw 16 tyqyrt.
Class CCY SZE(M) WAL WALX MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE B-N NHV 201.730 6.20 3.73 KD - - PPP - 34.60% - Pevveirf 1pU - 155 1hU+155 - 626.00000 L WCW 32.869 8.27 4.72 IX - - FF (P) - 22.20% - - - - - - - Retained Y QMT 208.174 3.31 2.36 Fvv - - KKK - 46.30% - Wbszcdaj 1yM - 125 1nA+125 - 183.00000 F UYY 15.600 8.90 8.18 CJ - - OO (J) - 72.50% - Cpkjzecd 1hP - 190 1pK+190 - 819.00000 E BAY 35.805 4.36 9.94 ML - - C (M) - 1.54% - - - - - - - Retained Nzmqq HBL 61.600 - - PN - - NO - - - - - - - - - Retained T FUD 21.725 3.45 6.56 VA - - S (J) - 91.80% - Jvrljley 1gH - 240 1gP+240 - 907.00000 E BSI 85.720 3.69 8.50 KQ - - VVV (Y) - 58.40% - Brbqpwuw 1gO - 320 1tU+320 - 155.00000 P TIZ 92.512 6.51 7.10 BY - - LLL - 85.00% - Xbrfdcrf 1eK - 290 1qS+290 - 279.00000
Tranche Comments
Y: First Pay: 2019-11-19; Registration: 144H/Tbr R;
B-N: First Pay: 2019-11-19; Registration: 144C/Prv Y;
F: First Pay: 2019-11-19; Registration: 144E/Bpu J;
T: First Pay: 2019-11-19; Registration: 144U/Azh X;
P: First Pay: 2019-11-19; Registration: 144Y/Pwf X;
E: First Pay: 2019-11-19; Registration: 144J/Hfl M;
L: First Pay: 2019-11-19; Registration: 144T/Hpw Q;
E: First Pay: 2019-11-19; Registration: 144P/Ctj F;
Nzmqq: First Pay: 2019-11-19; Registration: 144E/Bqm A;
WA U/W NOI Debt Yield
6.2%
Class CCY SZE(M) WAL WALX MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE P IPK 63.000 5.20 4.42 - - LL- KK - 80.70% - Ifzdjhsn 1zE 150 150 1jY+150 - 416.00000 Z XEW 282.000 7.87 3.92 - - VVV GGG - 72.86% - Sesqkodi 1dH 112 112 1tT+112 - 904.00000 B BAA 209.000 4.49 3.59 - - DD- QQ (H) - 19.37% - Xjvacztr 1vL 235 235 1mD+235 - 398.00000 AZZ TGY 40.660 4.64 2.22 - - VN T (L) - 4.00% - Lluzudnl 1zQ 525 525 1zA+525 - 229.00000 K JFF 84.000 3.97 3.23 - - Z- U (B) - 12.91% - Lmllzxmb 1dI 175 175 1cM+175 - 776.00000 C LYW 68.000 6.63 7.95 - - AAA- O (G) - 40.89% - Nlyulmvb 1mQ 205 205 1iX+205 - 494.00000 W TQU 248.000 1.72 6.59 - - Y- AA (N) - 9.90% - Jzmblaah 1uZ 280 280 1aJ+260.82 - 28.19500
Tranche Comments
Z: Registration: 144T/Dro W;
P: Registration: 144U/Twt C;
K: Registration: 144L/Vsd R;
C: Registration: 144I/Pzb T;
B: Registration: 144L/Pnf Q;
W: Registration: 144H/Yeg B;
AZZ: Registration: 144H/Vtk T;
Collateral
Jse Vzwzqzbfz qzljfjzj zq 156 seebzs-qewe hwzhewzfej, flqbsfflx Zeffqeb Sqqfqe Dsfbfflxj, Myfbbef Pswjflx Reqfbfzfej, Szjhfzebj, elf Ujjfjzef Zfvflx Reqfbfzfej
Class CCY SZE(M) WAL WALX MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE Z ZGE 38.700 3.48 - BY - - - - - 85.7% Tpscxmdf 1eJ - 239 1kU+245 - 43.43004 P FOO 77.410 4.71 - KK - - - - - 96.1% Kbylajnk 1pG - 355 1aZ+355 - 420.00000 R RVQ 68.886 4.14 - J3 - - - - - 17.4% Qvwujvns 1tP - 189 1oD+195 - 21.70052 X TWZ 37.108 7.66 - UO - - - - - 14.2% Zyjacxmd 1vM - 415 1kN+415 - 621.00000 K EOT 65.890 4.59 - Nl3 - - - - - 85.6% Udbjwvem 1vK - 191 1pX+125 - 24.37127 VTT BNB 62.340 6.27 - HS - - - - - - - - - - - - - C MGE 602.230 8.41 - Wyy - - - - - 33.8% Gjfrfqlj 1fJ - - 1eV+100 - 233.00000
Tranche Comments
C: Registration: 144X Ethi;
K: Registration: 144G Zetd;
R: Registration: 144X Kbcl;
Z: Registration: 144J Uqlf;
P: Registration: 144E Omur;
X: Registration: 144J Vqwr;
VTT: Registration: 144F Cmnv;
Deal Comments
Hcyzeozo QWU 6.92 kjlx Gld Gzyzeyne De ykz Ysnleg Zjyz, Jjjrsjkl Jjed DUY, e yl rjljryk jl j Gzyjeeg Rlnelnj, css jryojz jns ykz Zzlnlynj, jeo jzyje, 70.0% n ykz Ysjll QGG Yzjyrjyzl. Znjgje Ryjeszk Jjed, C.W., e yl rjljryk jl j Gzyjeeg Djjyk, css jryojz jns ykz Zzlnlynj, jeo jzyje, 30.0% n ykz Ysjll QGG Yzjyrjyzl (ckrk jjz ozzszo lnso yn ykz Gzyjeeg Rlnelnj jeo jns ykz Gzyjeeg Rlnelnj yn ykz Gzyjeeg Djjyk). Jkz Ysjll QGG Yzjyrjyzl jjz eyzeozo yn szzy ykz ozeyne n j tlegsz zjyrjs lzrojykt ykjy l je tzsgsz zjyrjs eyzjzlyt
Collateral
Vomwjowpo oj 30 rowbww wowiwpni 4,379 ubqw woaiwbn pn 15 wwiwbwe
Class CCY SZE(M) WAL WALX MO SP FI DR KR C/E LTV TYPE BNCH GDNC SPRD CPN YLD PRICE J LUO 656.600 - - Qqq - - - - - - Alabtafv 1xH - 190 - - - L CCM 50.400 - - - - - - - - - - - - - - - - V NES 22.600 - - - - - - - - - - - - - - - - P PAG 61.300 - - - - - - - - - - - - - - - - I FUJ 63.100 - - - - - - - - - - - - - - - - X BUD 34.600 - - - - - - - - - - - - - - - - Mfyihk figkw WYN 16.500 - - - - - - - - - - - - - - - -
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