DataBank Announces Successful Completion of Secured Debt Refinancing
Company secures seven-year $410 million credit facility to support expansion plans and lower cost of capital
Dallas, TX - November 21, 2017 - DataBank, Ltd., a Digital Bridge portfolio company and leading provider of business solutions for data center, cloud, interconnectivity and managed services, today announced it has completed a $410 million Term Loan B credit facility, providing DataBank with additional capital at a lower cost and flexibility to support the company's near and long-term growth objectives. The new facility includes a $50 million revolver to provide ample liquidity for general purposes as well as the ability to accelerate investments. As part of the refinancing, Moody's Investors Service and S&P Global Ratings initiated first-time corporate family ratings (CFR) and first lien credit ratings with a stable outlook.
"We couldn't be more pleased with the level of interest we received from the lending community," said Kevin Ooley, DataBank's President & CFO. "The favorable economics of this refinancing enables us to extend our debt profile to meet our increasing scale and fully fund our continued growth plans. We are well-positioned to capitalize on an ever-increasing demand for our services in the marketplace."
DataBank started in 2005 as single-site provider leveraging the dense carrier connectivity of the former Federal Reserve building in downtown Dallas, Texas. Since then, it has grown through acquisition and organic growth now serving eight major markets from fourteen interconnected sites across the United States. DataBank offers high-tier traditional colocation with a host of interconnectivity as well as build-to-suit hybrid solutions for cloud and managed services.
"For the company, this represents a truly significant milestone," said Raul Martynek, CEO of DataBank. "This vehicle contains the structure and flexibility needed to meet the long-term growth and expansion in both our colocation and cloud platforms."
SunTrust Bank served as Administrative Agent, and SunTrust Robinson Humphrey, RBC Capital Markets, and TD Securities served as Joint Lead Arrangers and Joint Bookrunners. AB Private Credit Investors led the second lien facility. Jones Day served as legal counsel for DataBank.
DataBank operates in Dallas, Minneapolis, Kansas City, Cleveland, Pittsburgh, Salt Lake City, Atlanta, and Baltimore.
DataBank is a leading provider of secure enterprise-class data center, cloud, and interconnection services, offering customers 100% uptime availability of data, applications and infrastructure. Databank's managed data center services are anchored in world-class facilities. Our customized technology solutions help customers effectively manage risk, improve their technology performance and allow them to focus on their core business objectives. DataBank is headquartered in the historic former Federal Reserve Bank Building, in downtown Dallas, Texas. For additional information on DataBank locations and services, please visit http://www.databank.com or call 1(800) 840-7533.
About Digital Bridge Holdings
Founded in 2013 by Marc C. Ganzi and Ben Jenkins, Digital Bridge is focused on the ownership, investment and active management of companies in the mobile and internet infrastructure sector. Since inception, Digital Bridge has raised over $6.5 billion of debt and equity capital used to acquire and invest in the development of communications infrastructure businesses, including DataBank, Vantage Data Centers, ExteNet, Vertical Bridge, Andean Tower Partners, and Mexico Tower Partners. ###