Dallas-Based CyrusOne Secures $9.7B Credit Facility To Fund Data Center Growth

CyrusOne—which operates over 55 data centers across the U.S. and Europe—said it has taken steps in the past year to further meet customer demand for AI while enhancing the company’s sustainability goals. It aims to tap the billions in new debt capital primarily to fund existing and future development projects in the U.S.

CyrusOne, a Dallas-based global data center owner, developer, and operator specializing in delivering state-of-the-art digital infrastructure solutions, has closed on a $7.9 billion warehouse credit facility. The transaction is incremental to the $1.8 billion revolving credit facility financing completed in May, leading to around $9.7 billion of additional debt capital raised with broad-based support from lenders, the company said.

Eric Schwartz

“The successful closing of this significant financing, combined with our strong business outlook for growth, expands our ability to deliver world-class digital infrastructure projects that meet the growing needs of our customers while positioning CyrusOne for future investment and development opportunities,” CyrusOne CEO Eric Schwartz said in a statement. “We’re extremely grateful to our financial partners for their continued support of CyrusOne.”

Fran Federman, CyrusOne’s chief investment officer, said her company is “pleased to announce the completion of the warehouse credit facility and the revolving credit facility, both of which will provide CyrusOne with attractively priced capital and enhanced liquidity. Our ability to raise these debt facilities and the tremendous interest that we’ve received from the lender community are a testament to the strength of our business and the market’s confidence in our ability to continue to build on the significant momentum we have achieved thus far.”

The warehouse credit facility will primarily fund existing and future development projects in the United States, while the global revolving credit facility will be used for working capital and for general corporate purposes, the company said.

Targeting sustainability

Both facilities are sustainability-linked and align with sustainability-linked loan principles, CyrusOne said. The pricing on the debt facilities will be adjusted based on achieving target reductions in greenhouse gas emissions, the company said.

In the past year, CyrusOne said it has taken steps to further meet customer demand for AI while enhancing the company’s sustainability goals.

In 2023, CyrusOne launched Intelliscale, a state-of-the-art AI workload-specific data center solution developed to address the rapidly growing needs of AI applications and services. CyrusOne said it also maintains a strong commitment to sustainability, and last year announced its plan to accelerate its net-zero carbon pledge by a decade to 2030.

The company operates over 55 data centers across the United States and Europe in key digital gateway markets.

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