CyrusOne Inc. Expands Unsecured Credit Facility to $2.0 Billion
June 19 2017 - 8:30AM
Business Wire
CyrusOne Inc. (NASDAQ:CONE), a premier global data center REIT,
today announced that its operating partnership, CyrusOne LP, has
entered into an amendment to its senior unsecured credit agreement
that increases the total size of the facility by $450 million to
$2.0 billion and provides additional flexibility to pursue various
initiatives, including joint ventures and international expansion.
The amendment increased the size of the term loan maturing in
January 2022 from $300 million to $650 million and expanded the
revolving credit facility by $100 million to $1.1 billion. Proceeds
from the $350 million term loan increase were used to pay down
borrowings under the revolving credit facility. The existing $250
million term loan maturing in September 2021 remains unchanged. The
credit agreement contains an accordion feature that allows the
Company to obtain up to $300 million in additional revolving or
term loan commitments.
“The increase in available capacity under our revolving credit
facility provides us substantial liquidity to execute on our growth
plan at very attractive interest rates, and the enhanced
flexibility facilitates the pursuit of opportunities consistent
with the company’s strategic and financial objectives,” said Diane
Morefield, Chief Financial Officer. “We would like to thank our
entire lending group for their continued strong support of
CyrusOne.”
CyrusOne engaged KeyBank National Association to serve as
administrative agent, JPMorgan Chase Bank, N.A., to serve as
syndication agent, and KeyBanc Capital Markets Inc., JPMorgan Chase
Bank, N.A., and TD Securities (USA) LLC to serve as joint lead
arrangers. Co-documentation agents include Bank of America, N.A.,
Barclays Bank PLC, Citizens Bank, N.A., Deutsche Bank AG New York
Branch, Goldman Sachs Bank USA, Morgan Stanley Bank N.A., Morgan
Stanley Senior Funding, Inc., PNC Bank, National Association, Royal
Bank of Canada, SunTrust Bank, The Bank of Tokyo - Mitsubishi UFJ,
Ltd., and The Toronto-Dominion Bank, New York Branch. Capital One,
N.A., is a new lending institution. There are nineteen financial
institutions in the syndicate.
Safe Harbor
This release and the documents incorporated by reference herein
contain forward-looking statements regarding future events and our
future results that are subject to the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. All
statements, other than statements of historical facts, are
statements that could be deemed forward-looking statements. These
statements are based on current expectations, estimates, forecasts,
and projections about the industries in which we operate and the
beliefs and assumptions of our management. Words such as "expects,"
"anticipates," "predicts," "projects," "intends," "plans,"
"believes," "seeks," "estimates," "continues," "endeavors,"
"strives," "may," variations of such words and similar expressions
are intended to identify such forward-looking statements. In
addition, any statements that refer to projections of our future
financial performance, our anticipated growth and trends in our
businesses, and other characterizations of future events or
circumstances are forward-looking statements. Readers are cautioned
these forward-looking statements are based on current expectations
and assumptions that are subject to risks and uncertainties, which
could cause our actual results to differ materially and adversely
from those reflected in the forward-looking statements. Factors
that could cause or contribute to such differences include, but are
not limited to, those discussed in this release and those discussed
in other documents we file with the Securities and Exchange
Commission (SEC). More information on potential risks and
uncertainties is available in our recent filings with the SEC,
including CyrusOne's Form 10-K report, Form 10-Q reports, and Form
8-K reports. Actual results may differ materially and adversely
from those expressed in any forward-looking statements. We
undertake no obligation to revise or update any forward-looking
statements for any reason.
About CyrusOne
CyrusOne (NASDAQ: CONE) is a high-growth real estate
investment trust (REIT) specializing in highly reliable
enterprise-class, carrier-neutral data center properties. The
company provides mission-critical data center facilities that
protect and ensure the continued operation of IT infrastructure for
more than 970 customers, including 190 of the Fortune 1000 or
equivalent-sized companies.
CyrusOne’s data center offerings provide the flexibility,
reliability, and security that enterprise and
cloud customers require, and are delivered through a tailored,
customer-service-focused platform designed to foster long-term
relationships. CyrusOne’s National IX platform provides robust
connectivity options to drive revenue, reduce expenses, and improve
service quality for enterprises, content, and telecommunications
companies. CyrusOne is committed to full transparency in
communication, management, and service delivery throughout its 39
data centers worldwide. Additional information about CyrusOne
can be found at www.CyrusOne.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20170619005294/en/
Investor RelationsCyrusOne Inc.Michael Schafer,
972-350-0060Vice President, Capital Markets & Investor
Relationsinvestorrelations@cyrusone.com
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