? unverified
The SEC's position lets sponsors of data-centre securitisations hold progressively less of their own equity in these deals, and will push the industry toward more of them.
Forward call made the week the reading became public; not yet checkable. The direction is plausible on the record — data-centre asset-backed issuance rose from $2.4bn in 2020 to $15.5bn in 2025 and is pacing to a 2026 record — but that growth predates the SEC's position, so 2027 issuance and disclosed retained-equity levels in new deals are what settle it.