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RBC Capital Markets, Others Arrange $200MM Facility for Latisys

March 07, 2013, 07:33 AM
Filed Under: Technology

Latisys, a provider of Infrastructure as a Service (IaaS) solutions spanning data center colocation, managed hosting, cloud and hybrid infrastructure, today announced a new $200 million credit facility including a six-year, $180 million institutional term loan and a five-year $20 million revolving credit facility.

The oversubscribed credit facility was arranged by RBC Capital Markets, TD Securities and SunTrust Robinson Humphrey and funded by a consortium of over 20 leading financial institutions and institutional investors.

The credit facility, which was rated by Standard and Poor's Rating Services and Moody's Investors Service, was substantially oversubscribed with commitments from several leading sector lenders and institutional investors -- reflecting strong support for the company's operational execution, accelerating growth and national IT Infrastructure-as-a-Service (IaaS) platform.

The availability of new capital in 2013 will be deployed across Latisys' IaaS platform to drive accelerating growth and customer acquisition including continued facility expansion to ensure the availability of high density capacity for current and future customers, technology platform enhancements to support cloud adoption and enable clients to enhance their security and disaster recovery posture and investment in highly skilled, credentialed personnel, supported by tools and automation to simplify IaaS deployment and support.

"Latisys' growth strategy centers around ongoing strategic expansion of our IaaS platform and our ability to provide innovative right-sized, hybrid IT solutions that solve business problems," said Doug Butler, chief financial officer for Latisys. "The new credit facility provides additional capital necessary to maintain technology leadership as well as additional support services required to respond to increased demand for higher margin managed hosting and cloud services."

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