Cahill Represents Initial Purchasers in SV RNO Property Owner 1, LLC’s $3.8 Billion Notes Offering

February 24, 2026

Cahill represented the initial purchasers in connection with a Rule 144A offering of $3.8 billion aggregate principal amount of 5.875% senior secured notes due 2031 by SV RNO Property Owner 1, LLC.

Proceeds from the offering were used to finance the construction of a 230-megawatt, utility capacity, turnkey data center and substation to be built on a 252-acre property in Storey County, Nevada.

SV RNO Property Owner 1, LLC is an indirect wholly owned subsidiary of Fleet Data Centers I, LP, which is a developer and operator of mega-scale, single-user data center campuses and a portfolio company of Tract Capital.