# Developer Behind AT&T's New Texas Headquarters Seeks $3.5 Billion in Debt

> Dallas-based KDC is lining up roughly $3.5 billion in credit tenant lease financing, backed by AT&T's future lease payments, to fund construction of the carrier's sprawling new global headquarters in Plano.

- Source: Principle Post
- Canonical URL: https://principlepost.com/article/att-plano-texas-headquarters-debt-financing
- Author: Principle Post Staff
- Section: Business
- Published: 2026-10-22T18:05:00.000Z
- Updated: 2026-10-22T18:05:00.000Z
- Tags: AT&T, Texas, real estate, KDC, debt financing

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The developer building AT&T's new global headquarters in Plano, Texas, is seeking to raise about $3.5 billion in debt to finance construction of the sprawling corporate campus. Dallas-based KDC, the firm behind the project, is using a niche structure known as credit tenant lease financing, which lets it borrow against the future lease payments AT&T has committed to make once the buildings are complete.

## A long-dated bet on AT&T's lease

CGA Capital and CBRE are arranging the debt, which is expected to carry a weighted-average life of 18.7 years, reflecting the length of AT&T's lease commitment rather than a typical construction loan's shorter horizon. The financing structure effectively treats AT&T's creditworthiness as the collateral, a common approach for single-tenant corporate campuses built on long leases.

The multi-building campus is expected to replace AT&T's longtime Dallas headquarters, consolidating the company's presence in the Plano area. State filings have indicated construction could begin before the end of the year, and the project follows AT&T's sale of its former downtown Dallas headquarters site to a developer-backed group as part of the broader relocation.

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Originally published by Principle Post. Free to cite with attribution and a link to https://principlepost.com/article/att-plano-texas-headquarters-debt-financing.