Blackstone-Backed QTS Cuts Private Debt Sale to $300 Million

Quality Technology Services reduced the size of a planned private debt sale by approximately 60%, lowering its funding target from $800 million to about $300 million. The data center operator, which is backed by Blackstone Inc., took the action after struggling to attract enough investor interest to meet the original goal.

Investor pushback centered on pricing and market saturation. Some investors rejected the offered pricing, while others were limited by the company's frequent use of the private placement market. The company reportedly declined to offer the higher yields requested by some investors to secure the full $800 million.