ServerFarm, a developer and operator of data centers, is planning its first asset-backed bond sale, joining an increasing number of companies financing investments as big-tech firms spend heavily on artificial intelligence.
The El Segundo, California-based company is selling bonds backed by data-center contract payments, according to a regulatory filing. At least four banks are managing the sale, including Morgan Stanley and TD Securities Inc., according to people familiar with the matter, who asked not to be identified discussing a deal that hasn’t yet been announced.
ServerFarm didn’t immediately respond to requests for comment.
While major technology firms spending ...
