CyrusOne Secures $9.7B in Debt Capital to Fund Datacenter Expansion
Data center owner, developer, and operator CyrusOne has closed 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, CEO at CyrusOne.
The Warehouse Credit Facility will primarily fund existing and future development projects in the U.S., while the global Revolving Credit Facility will be used for working capital and for general corporate purposes, the company said. The pricing on the debt facilities will also be adjusted, based on CyrusOne’s achieving target reductions in Greenhouse Gas Emissions.
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 global Revolving Credit Facility. Global Infrastructure Partners also worked closely with the company in connection with these transactions.
