Latisys Completes Expanded Senior Debt Financing
RBC Capital Markets, TD Securities, Madison Capital lead consortium of eight lenders in funding new $110 million credit facility
Englewood, CO (August 16, 2010) – Latisys, a leading national provider of colocation, managed hosting, managed services and disaster recovery solutions, today announced it has successfully refinanced its existing $65 million senior credit facility with a new $110 million facility through a consortium of eight leading financial institutions. Latisys, which received over $180 million in commitments to the new credit facility, will utilize the incremental funding to continue its market expansion and growth across key U.S. markets including Denver, Irvine, Chicago and Ashburn.
The new 5-year, $110 million credit facility consists of up to $85 million in term debt and a $25 million revolving credit facility. The refinancing, which significantly expanded overall liquidity and reduced effective interest rates, was led by a consortium of eight leading financial institutions, including RBC Capital Markets, Toronto Dominion, Madison Capital, SunTrust, Bank of America, CapitalSource, GE Capital and Caterpillar Financial Services.
“The fact that our financing was heavily oversubscribed and includes the leading financial institutions for our sector is a testament to Latisys’ strong national platform of facilities in Irvine, Denver, Chicago and Ashburn, as well as the combined businesses’ profitability and prospects for continued growth,” said Doug Butler, Chief Financial Officer, Latisys. “The new capital enables Latisys to continue to scale our datacenter facility operations and services as one of the nation’s premier data center colocation and managed hosting providers.”
Latisys has strategically scaled its operations over the past several months. The firm established an east coast presence with a new 123,000 square foot Ashburn Virginia Tier III Data Center, and completed significant facility expansions at existing SAS 70 Type II compliant facilities in Chicago, Denver and Irvine, California. Latisys now delivers coverage across all U.S. time zones – including gateways into the Asia Pacific and Europe – delivering unmatched scalability and multi-site redundancy to enterprise customers whether they want to off-site, off-load or optimize their IT infrastructure.
Latisys is a leading provider of colocation, managed hosting, managed services and disaster recovery solutions to medium-sized businesses, enterprise customers and government agencies. With a heritage serving business customers since 1994, and multiple high-density, SAS70 Type II compliant data centers across the United States, Latisys offers scalable outsourced IT infrastructure management solutions that provide customers what they need, when they need it. The firm’s new, state-of-the-art Tier III data center campus in Ashburn, Virginia compliments existing facility operations in Chicago, Denver and Irvine, California. As a data center-centric company, Latisys is quickly becoming the hosting and colocation company of choice for companies that demand more from their IT infrastructure partner. All while optimizing clients' return on investment. All while 'delivering more_'.