Tue. Jul 16th, 2024

Dallas-based CyrusOne secures $9.7 billion credit line to fund data center expansion » Dallas Innovates

By meerna Jul11,2024
Dallas-based CyrusOne secures .7 billion credit line to fund data center expansion » Dallas Innovates

CyrusOne, a Dallas-based global owner, developer and operator of data centers specializing in delivering cutting-edge digital infrastructure solutions, has closed on a $7.9 billion warehouse credit facility. The transaction is in addition to a $1.8 billion revolving credit facility financing completed in May, which resulted in the raising of approximately $9.7 billion in additional debt capital with broad lender support, the company said.

Eric Schwarz

“The successful closing of this significant financing, combined with our strong business growth prospects, expands our ability to deliver world-class digital infrastructure projects that meet the growing needs of our customers, while positioning CyrusOne for future investment and growth opportunities,” said CyrusOne CEO Eric Schwartz in a statement. “We are extremely grateful to our financial partners for their continued support of CyrusOne.”

Fran Federman, chief investment officer at CyrusOne, said her company is ““We are pleased to announce the completion of our warehouse and revolving credit facilities, which will provide CyrusOne with attractively priced capital and enhanced liquidity. Our ability to obtain these debt facilities and the overwhelming interest we have received from the lender community are a testament to the strength of our business and the market’s confidence in our ability to continue building on the significant momentum we have achieved to date.”

The company said the warehouse line of credit will be used primarily to fund current and future growth projects in the United States, while the global revolving line of credit will be used for working capital and general corporate purposes.

Aiming for Sustainability

Both facilities are linked to sustainability and are compliant with sustainability-linked lending principles, CyrusOne said. The pricing of the debt instruments will be adjusted based on the achievement of greenhouse gas emission reduction targets, the company said.

Last year, CyrusOne announced steps to better meet customer demand for AI while also advancing the company’s sustainability goals.

In 2023, CyrusOne launched Intelliscale, a state-of-the-art data center solution for AI workloads designed to meet the rapidly growing needs of AI applications and services. CyrusOne said it also maintains a strong commitment to sustainability, and last year announced a plan to accelerate its net-zero carbon emissions commitment by a decade by 2030.

The company operates more than 55 data centers in the United States and Europe, key digital gateway markets.

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