CyrusOne secures $7.9 bn warehouse credit facility

CyrusOne, a prominent global data center operator, has closed a $7.9 billion Warehouse Credit Facility. This significant transaction follows the $1.8 billion Revolving Credit Facility financing completed in May, collectively raising approximately $9.7 billion in additional debt capital with lender support.

CyrusOne data center

“The 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,” said Eric Schwartz, Chief Executive Officer at CyrusOne.

Fran Federman, CyrusOne’s Chief Investment Officer, said: “Our ability to raise these debt facilities and the tremendous interest we have received from the lender community are a testament to the strength of our business and the market’s confidence in our ability to continue building 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 utilized for working capital and general corporate purposes.

Both facilities are sustainability-linked, aligning with sustainability-linked loan principles. Consequently, the pricing on the debt facilities will adjust based on achieving target reductions in Greenhouse Gas Emissions.

CyrusOne has taken steps to meet customer demand for AI and enhance the company’s sustainability goals. In 2023, CyrusOne launched Intelliscale, an AI workload-specific data center solution developed to address the needs of AI applications and services.

Morgan Stanley, TD Securities, and KKR Capital Markets served as lead arrangers for the Warehouse Credit Facility, while Wells Fargo served as the lead arranger for the Revolving Credit Facility. Global Infrastructure Partners also worked closely with the company on these transactions.

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