Dechert Represents Lending Syndicate Led by TD Securities in Loans to Finance US$11 Billion Take-Private of Switch

Dechert LLP represented a syndicate of lenders led by TD Securities and including Societe Generale, Royal Bank of Canada, Citizens Bank, N.A., Truist Securities, Inc., Banco Santander, S.A., The Bank of Nova Scotia, and MUFG Bank Ltd in connection with multiple loans to finance the US$11 billion take-private acquisition of Switch, Inc. by DigitalBridge and IFM Investors.

Through this deal, which closed December 6, and similar acquisition financing transactions, Dechert demonstrates its support for lenders looking to finance large real estate public-to-private deals, reflecting an industry trend of public companies that own significant real estate assets being acquired and taken private.

TD Securities is a subsidiary of the Toronto-Dominion Bank, which does business as TD Bank Group, a Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario.

Switch, Inc. is a leader in exascale data center ecosystems, edge data center designs, industry-leading telecommunications solutions and next-generation technology innovation. DigitalBridge is a leading global digital infrastructure firm. IFM Investors is a global investment management firm and one of the largest infrastructure investors in the world.

The cross-practice Dechert team advising the lenders in this deal included global finance partners David Forti, Matthew Ginsburg, Tyler Stevens, Ani Ravi, William Robertson, Nitya Goyal and Timothy Stafford, counsels Eric Kotloff, Victoria Boland and Douglas Carleton, associates Daniel Latella, Seth Ivey, Marley Strauss, Andrew Rocco, Leigh Pisane Cortez, Melissa Rybacki, Matthew Fishkind, Shuyan Sun, Suzanne Warnery and Jeremy Weyman and consulting attorney Haleh Rabizadeh; corporate partner Eric Siegel and associates Shanelle Gordon, Isabel Kim, Grace Ko, D’Juan Neal and Graham Travaglini; and tax counsel Steven Kolias and associate Daniel Ng.

About Dechert

Dechert is a leading global law firm with 21 offices around the world. We advise on matters and transactions of the greatest complexity, bringing energy, creativity, and efficient management of legal issues to deliver commercial and practical advice for clients.