DataBank Secures Another $325M in Financing to Expand Edge Data Center Footprint

DataBank President and CFO Kevin Ooley said that the $325 million financing would allow the company to "fully implement its aggressive expansion roadmap." The latest financing follows the announcement of the company's successful $715 million securitization in March.

DataBank, a Dallas-based provider of enterprise-class edge colocation, interconnection, and managed cloud services, has secured another $325 million in financing to fund the ongoing expansion of its edge data center footprint.

Led by TD Securities, the $325 million credit facility includes a $175 million five-year term loan, a $125 million delayed draw term loan that is undrawn at close, and a $50 million revolving credit line.

“This additional financing allows DataBank to fully implement its aggressive expansion roadmap,” DataBank President and CFO Kevin Ooley said in a statement. “Our ability to swiftly complete this transaction reflects both investors’ confidence in our edge strategy as well as DataBank’s proven ability to execute on its business plans.”

The company said that the financing will be used for general working capital and success-based capex expenditures related to its deployment of new and expanded data center capacity at its campuses in Salt Lake City, Denver, Atlanta, and New York.

DataBank said that this is its second successful financing this year, coming just weeks after the announcement of its $715 million securitization on March 1.

In 2021, DataBank completed two securitizations worth nearly $1 billion, including the first ever securitization for a multitenant, enterprise data center provider, and in 2022, it completed a $1.9 billion recapitalization led by SwissLife Asset Management.

DataBank is the leading-edge colocation and interconnect platform with 65+ data centers in 27+ metro markets and 20 major interconnect locations.

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