DuPont Fabros Expands Unsecured Credit Facility
Data center developer DuPont Fabros Technology has increased its unsecured revolving credit from $100 million to $225 million, the company said today. There are currently no borrowings on this credit facility, giving DFT access to the full $225 million. The new credit line pushes the maturity date from May 2013 to March 2016, and includes an option for a one-year extension (with the payment of an extension fee).
“This amendment provides us with a lower interest rate, extends our maturity date and allows us the ability to fully fund and complete one of the next phases of our development pipeline,” said Mark Wetzel, Chief Financial Officer and Treasurer of DuPont Fabros Technology (DFT). “In addition, we expanded relationships with several banks.”
The company didn’t specific which phase in its data center pipeline would now be funded. DuPont Fabros is currently leasing wholesale data center space in four markets: Santa Clara, New Jersey, Chicago and northern Virginia.