OVERLAND PARK, Kan.,
Dec. 22, 2014 /PRNewswire/
-- QTS Realty Trust (NYSE: QTS), one of the nation's largest
and fastest-growing providers of data center facilities and cloud
services, and a leader in security and compliance, today announced
its unsecured credit facility has been increased to $650 million, up from $560
million. In addition, the unsecured credit facility maturity
date was extended through December 17,
2019 in relation to the $100
million term loan portion and December 17, 2018 in relation to the $550 million revolving credit portion of the
facility. The $550 million
revolving credit facility also has a one-year extension option to
December 17, 2019.
The current interest rate on the credit facility was also
reduced to LIBOR plus 1.65% on the $100
million term loan portion and to LIBOR plus 1.7% on the
$550 million revolving credit
facility portion. This compares to the previous rate of LIBOR
plus 2.1% on both the term loan and revolving credit loan. In
the future, the interest rate spread under the credit facility will
vary depending upon the company's leverage ratio. The credit
facility also has an accordion feature that gives QTS the ability
to increase the credit facility by up $200
million upon obtaining additional commitments.
QTS engaged KeyBank National Association to serve as
administrative agent and KeyBanc Capital Markets, Inc. (NYSE: KEY)
to serve as sole lead arranger for the amendment and
extension. Bank of America, N.A. (NYSE: BAC), Deutsche Bank
Securities, Inc. (NYSE: DB) and Regions Bank (NYSE: RF) acted as
co-syndication agents for the credit facility. Seventeen
financial institutions make up the syndicate for the credit
facility.
"QTS appreciates the continued confidence and trust of our
lending partners," said Bill
Schafer, Chief Financial Officer - QTS. "The increased
credit facility capacity, extended term and lower interest rates
enhance the company's financial flexibility and liquidity as we
continue to expand our facilities in Atlanta, Dallas, New
Jersey, Richmond,
Santa Clara and Sacramento and commence development of our
recently acquired facility in Chicago."
QTS specializes in acquiring, developing and managing scalable
mega data centers in strategic markets. The company's
nationwide distribution maximizes the use of space, power and QTS
expertise to support customer growth and overall market demand.
About QTS
QTS Realty Trust, Inc. (NYSE: QTS) is a leading national
provider of data center solutions and fully managed services and a
leader in security and compliance. The company offers a
comprehensive portfolio of core data center products, including
custom data center, colocation and cloud and managed services,
providing the flexibility, scale and security needed to support the
rapidly evolving hybrid infrastructure demands of web and IT
applications. With 12 data centers in eight states, QTS owns,
operates and manages approximately 4.7 million square feet of
secure, state-of-the-art data center infrastructure and supports
more than 850 customers. QTS' Critical Facility Management
(CFM) services can provide increased efficiency and greater
performance for third-party data center owners and
operators. For more information about QTS, please visit
www.qtsdatacenters.com, call toll-free 877.QTS.DATA or follow us on
Twitter @DataCenters_QTS.
Media Contact:
Marlena Reed, communications 21 for
QTS
404.814.1330
mreed@c21pr.com
Investor Relations Contact:
Jeff Berson, Chief Investment
Officer
QTS
ir@qtsdatacenters.com
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SOURCE QTS Realty Trust, Inc.