A DataBank data center near Legacy Park in Plano. [Photo: DataBank]
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.
Get on the list.
Dallas Innovates, every day.
Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.
R E A D N E X T
In this week’s roundup of hires, promotions, and accolades in North Texas, you’ll also find news from the AT&T Performing Arts Center, DART, Aimbridge Hospitality, Acera, Fidelis Companies, The Rios Group Inc., Tech Titans, NEC Corp. of America, Texas Women’s Foundation, ATTPAC, LEARFIELD, and Hope Cottage. Plus, Dallas ISD picks a lone finalist for superintendent.
Andercheck is leading a charge to create a data culture in Dallas that empowers everyone to speak, understand, and access data. As the Dallas data chief, she was recently featured in Data-Smart City Solutions, a project by the Bloomberg Center for Cities at Harvard University. In the feature, Anderchief discussed how CDOs use data on income and infrastructure to identify areas in need of additional assistance.
DataBank, the Dallas-based provider of enterprise-class colocation, interconnection, and managed services, appointed Jennifer Curry senior vice president of managed services. "At DataBank, we recognize that data centers are the center of the connected world," DataBank CEO Raul Martynek said in a statement. "Jennifer brings the expertise required to ensure our services are at the top of the class in answering the ever-evolving needs of our customers. Her impressive experience in network and cloud services makes her an invaluable addition to our company." Curry has nearly two decades of experience leading technology and customer operations teams, heads DataBank's product and technology…
Dallas-based Stream Data Centers has promoted Chris Bair to chief commercial officer and partner of the company that delivers exceptional data center experiences to hyperscale and global enterprise customers. Bair is a longtime member of the Stream leadership team with more than two decades of data center industry experience. He will lead the company's sales, marketing, sales engineering, and customer implementation functions. "As hyperscalers become increasingly hungry for Stream services, we see that more and more of our deployments are custom and build-to-suit projects. Over the past 24 years, Stream has built a reputation for providing a great customer experience.…
Southlake-based Renibus Therapeutics—a clinical-stage biotech company developing innovative products for cardiorenal diseases—has received $33 million in bridge financing to help it advance three drugs in its pipeline. The drugs are currently in various phases of trials.