CyrusOne Gets a Bigger Piggy Bank
Fresh on the heels of heading to the top US data center market, CyrusOne is now getting a bunch of money. The company—under the leadership of CEO Gary Wojtaszek—just secured a $450M unsecured credit facility with KeyBank for future growth, which tops its previous $225M credit facility. Along with the new credit facility, the company also secured an even better LIBOR rate—from LIBOR + 3.25% to LIBOR + 1.70% (take that, rising interest rates!). The facility will mature in 2018, and CyrusOne already has drawn $75M.
Just this past February, Gary told us the company was headed to Loudoun County in Va with a 400k SF data center. It's a gutsy move by CyrusOne, which planted its initial growth on second tier data center markets, but is now entering the big boys' fray with an initial 124k SF of data space. It also just opened a 120k SF data center in Phoenix, part of a planned 240k SF facility.
