Cahill Represents Initial Purchasers in PR RNO Property Owner 1’s $4.585 Billion Senior Notes Offering

May 1, 2026

Cahill represented the initial purchasers in connection with a Rule 144A offering of $4.585 billion aggregate principal amount of 6.5% senior notes due 2031 by PR 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 517-acre property in Storey County, Nevada.

PR 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.