TSL Express Daily News
The Secured Lender
SFNet's The Deals and Data Issue
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Top 5 Apps for Organizing
Mar 7, 2019If you’re like most of us, we try to stay organized in business and life, but it gets increasingly complicated…
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The Importance of Stretching
Mar 7, 2019Every personal trainer and athletic coach I have ever worked with has stressed the importance of stretching. When working out…
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SFNet's 40 Under 40 Award Winners Panel Recap
Mar 6, 2019Moderator: Samantha Alexander, regional underwriting manager, Wells Fargo Capital Finance’s Corporate Asset Based Lending group and 2016 CFA 40 Under…
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SFNet's Inaugural YoPro Leadership Summit
Mar 6, 2019The Secured Finance Network brought together the next generation of commercial finance leaders for a full day of learning and…
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It’s a Marathon, Not a Sprint
Aug 22, 2018I was recently invited to participate in an executive panel to answer questions from a credit training class comprised of...
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It’s Not Too Late – Five Member Benefits to Cash In On Now
Aug 1, 2018As we hit the half way mark on calendar year 2018, it is a good time to take stock and…
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It’s Time To Break Up With Your Phone
Jul 18, 2018Do I have your attention? Let’s be honest here: do you have the attention span to read this article? Compared…
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Lien Management – What You Need to Know
Jun 6, 2018UCC filing is the cornerstone of all loans and every lien portfolio...
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Potential Impacts of Blockchain on Commercial Lending
Jan 15, 2018By Raja Sengupta, Executive Vice President and General Manager, Wolters Kluwer’s Lien Solutions When it comes to the rising importance…
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How to be a Good Leader
Dec 5, 2017I know what you’re thinking…another article about how to be a good leader? The short answer is yes…but this time,…
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Fintech and Due Diligence – Disruptors and Established Firms Evolve
Oct 30, 2017The fintech sector has gone through a number of manifestations in the past two decades.
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A Commercial Banker’s Tickler Transition Plan
Oct 18, 2017Just do a keyword search for “bank tickler,” and you’ll quickly realize that banks are still heavily reliant on manual…
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Understanding and Developing Your Personal Brand: Four Steps to a More Intentional Career Progression
Sep 5, 2017It is imperative for individuals to have a general idea about their future career aspirations, just as companies should have clearly defined strategies.
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Selecting a Technology Vendor: 3 Questions to Ask
Jul 5, 2017As with anything else at your bank, selecting a technology vendor can be a challenging decision. Users from across different…
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Why Back-Office Lending Automation Enhances Customer Satisfaction
Apr 25, 2017Every bank strives to keep its customers happy. Of course, some institutions are better at achieving this goal than…
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The Lost Art of the Loan Purchase
Mar 2, 2017Purchasing a loan directly from a bank whether at par or discount is a not-often-used technique that is easily…
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Audit Prep: Why a Paperless Approach Makes Sense
Feb 15, 2017How much time does your financial institution spend preparing for audits? We recently surveyed 187 community banks, and the results…
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Back Office Support Services: Helping you approve more clients
Feb 7, 2017How many times have you come across a potential client who’s financials are either not up to date, not accurate,…
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“All Assets” is the Key When Drafting UCC-1 Financing Statement Collateral Descriptions
Jan 30, 2017Even when prepared by outside or in-house counsel, many lenders pay close attention to draft UCC financing statements before they…
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Paper Loan Files: Does Your Bank Know the True Cost?
Jan 12, 2017Sure, there’s a tangible cost associated with deploying an electronic loan imaging system. Software, support, and scanning hardware are just…
July 8, 2024
Source: KKR
DALLAS--(BUSINESS WIRE)--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.