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.
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.
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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.
To learn more, Follow us on LinkedIn or Subscribe to our YouTube channel. To tour a facility, visit DataBank or call 1(800) 840-7533.
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