CyrusOne increases credit facility to USD1.55bn.
BANKING AND CREDIT NEWS-November 29, 2016-CyrusOne increases credit facility to USD1.55bn
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CyrusOne Inc. (NASDAQ: CONE) has announced that its operating partnership, CyrusOne LP, has entered into an amended senior unsecured credit agreement, increasing the total size of the facility to USD1.55 billion, the company said.
The size of the revolving credit facility has been increased by USD350 million to USD1.0 billion, and the interest rate margin applicable to the revolving loans based on the company's current leverage level has been decreased by 15 basis points to LIBOR plus 1.55%.
The maturity of the revolving credit facility has been extended to November 2020 including a one-year extension option which, if exercised, would extend the final maturity to November 2021.
CyrusOne engaged KeyBank National Association to serve as administrative agent, JPMorgan Chase Bank, N.A., to serve as syndication agent, KeyBanc Capital Markets Inc., JPMorgan Chase Bank, N.A., and TD Securities (USA) LLC, to serve as joint lead arrangers, and SunTrust Bank and Citizens Bank, N.A., to serve as co-documentation agents.
Also participating in the credit facility are Bank of America, N.A., Barclays Bank PLC, Citibank N.A., CoBank, ACB, Deutsche Bank AG New York Branch, Goldman Sachs Bank USA, Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc., PNC Bank, National Association, Raymond James Bank, N.A., Royal Bank of Canada, Synovus Bank, The Bank of Tokyo - Mitsubishi UFJ, Ltd., The Toronto-Dominion Bank, New York Branch, and Woodforest National Bank.
CyrusOne is a high-growth real estate investment trust specializing in 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 950 customers.
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