CyrusOne received a new loan at $ 7.9 billion for the development of data centers in the USA
07/10/2024 [11:12], Ruslan Avdeev KyrusOne, an operator of KyrusOne, owned by KKR, received loans worth about $ 8 billion this year. Datacenter dynamics reports, that the new Warehouse Credit Facility credit line at $ 7.9 billion will complement the existing Revolving Credit Facility line at $ 1.8 billion, opened in May 2024. The Warehouse Credit Facility is primarily designed to finance existing and future projects for the construction of data centers in the United States, and the Revolving Credit Facility — for the provision of working capital and corporate goals.  Image Source: CyrusOne According to CyrusOne's head of investment, Fran Federman, interest on the part of — is a confirmation of the company's business’s strength and confidence in its ability to continue development. According to her, both financing programs are designed for sustainable development. Lending conditions will vary depending on the company's achievement of greenhouse gas emission targets. Morgan Stanley, TD Securities, and KKR Capital Markets hosted the Warehouse Credit Facility credit line, and Wells Fargo — behind the Revolving Credit Facility line. In the framework of transactions with the company, Global Infrastructure Partners (GIP), which partially owns CyrusOne and which will soon be bought out by Blackrock. CyrusOne owns dozens of data centers in 13 regional US markets. In 2024 alone, she applied for the construction of campuses in Chicago (Illinois), New Albany (Ohio), and also began the construction of new facilities in San Antonio (Texas). In Arizona, the Mesa city authorities will consider a proposal to build a new campus for 5 data centers in the vicinity of Phoenix. In 2018, CyrusOne acquired a plot of land from Sunbelt Investment Holdings Inc. for $ 19.3 million, and last year filed an application for the construction of the campus. If you notice the error — select it with the mouse and press CTRL + ENTER. | Can you write better? We are always happy new authors. Source: |
Press Release -- July 9th, 2024 |
CYRUSONE SECURES $9.7 BILLION IN NEW DEBT CAPITAL TO FUND DATACENTER GROWTH
CyrusOne, a leading global data center owner, developer and operator specializing in delivering state-of-the-art digital infrastructure solutions, today announced the closing of a $7.9 billion Warehouse Credit Facility. The executed transaction is incremental to the $1.8 billion Revolving Credit Facility financing completed in May, leading to approximately $9.7 billion of additional debt capital raised with broad-based support from lenders.
“The successful closing of this significant financing, combined with our strong business outlook for growth, 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 development opportunities,” said Eric Schwartz, Chief Executive Officer at CyrusOne. “We are extremely grateful to our financial partners for their continued support of CyrusOne.”
“We are pleased to announce the completion of the Warehouse Credit Facility and the Revolving Credit Facility, both of which will provide CyrusOne with attractively priced capital and enhanced liquidity,” said Fran Federman, CyrusOne’s Chief Investment Officer. “Our ability to raise these debt facilities and the tremendous interest that 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 to build on the significant momentum we have achieved thus far.”
The Warehouse Credit Facility will primarily fund existing and future development projects in the United States, while the global Revolving Credit Facility will be used for working capital and for general corporate purposes. Both facilities are sustainability-linked and align with sustainability-linked loan principles. Accordingly, the pricing on the debt facilities will be adjusted based on our achieving target reductions in Greenhouse Gas Emissions.
In the past year, CyrusOne has taken steps to further meet customer demand for AI while enhancing the company’s sustainability goals. In 2023, CyrusOne launched Intelliscale, a state-of-the-art AI workload-specific data center solution developed to address the rapidly growing needs of AI applications and services. CyrusOne also maintains a strong commitment to sustainability, and last year announced its plan to accelerate its net-zero carbon pledge by a decade to 2030.
Morgan Stanley, TD Securities and KKR Capital Markets served as lead arrangers for the Warehouse Credit Facility, while Wells Fargo served as lead arranger for the Revolving Credit Facility. Global Infrastructure Partners also worked closely with the company in connection with these transactions.
About CyrusOne
CyrusOne is a leading global data center owner, developer and operator, delivering sophisticated digital infrastructure solutions worldwide. Headquartered in Dallas, Texas, the company operates over 55 data centers across the United States and Europe in key digital gateway markets. Specializing in comprehensive solutions for hyperscale and Fortune 1000 companies, CyrusOne enables customers to align with their unique business and sustainability goals, catering to the complex needs of AI-driven applications and services workloads. CyrusOne’s data centers offer unparalleled flexibility, enabling customers to modernize, simplify, and rapidly respond to changing demands. CyrusOne delivers tailored build-to-suit, colocation, and interconnection solutions that meet the evolving digital needs of its customers. For more information, please visit cyrusone.com.
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