DataBank Secures $350 Million Credit Facility to Finance Ongoing Expansion

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Apr 05, 2023, 09:00 ET

Transaction includes $175 million term loan, $125 million delayed draw facility, and $50 million revolver to fund capex and general working capital

DALLAS, April 5, 2023 /PRNewswire/ -- DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed cloud services, announced today that it has secured another $350M in financing to fund the ongoing expansion of its edge data center footprint. Today, DataBank is the leading-edge colocation and interconnect platform with 65+ data centers in 27+ metro markets and 20 major interconnect locations.

Led by TD Securities, the $350 million credit facility includes a $175 million, 5-year Term Loan, a $125 million Delayed Draw Term Loan ("DDTL") which is undrawn at close, and a $50 million revolving credit line. Collectively, the financing will be used for general working capital and success-based capex expenditures related to the company's deployment of new and expanded data center capacity at its campuses in Salt Lake City, Denver, Atlanta, and New York.

"This additional financing allows DataBank to fully implement its aggressive expansion roadmap," said Kevin Ooley, DataBank's President & CFO. "Our ability to swiftly complete this transaction reflects both investors' confidence in our edge strategy as well as DataBank's proven ability to execute on its business plans."

This is DataBank's second successful financing this year, coming just weeks after the announcement of its $715 million securitization on March 1, 2023. In 2021, DataBank completed two securitizations worth nearly $1B, including the first ever securitization for a multi-tenant, enterprise data center provider, and in 2022, it completed a $1.9B recapitalization led by SwissLife Asset Management.

About DataBank
DataBank enables the world's largest enterprises, technology, and content providers to consistently deploy and manage their infrastructure, applications, and data on the right platform, at the right time, in the right place. Our colocation and edge infrastructure footprint consists of 65+ data centers and 20 interconnection hubs in 27+ markets, on-ramps to an ecosystem of cloud providers, and a modular edge data center platform with virtually unlimited reach. We combine these platforms with contract portability, managed security, compliance enablement, hands-on support, and a guarantee of 100% uptime availability, to give our customers absolute confidence in their IT infrastructure and the power to create a limitless digital future for their business.

SOURCE DataBank