QTS Now Has $575 Million Unsecured Credit Facility
May 15th, 2013 By: Jason Verge
With a new financing move, QTS (Quality Technology Services) has a substantial amount of money in its coffers to propel the company’s growth going forward. The data center and managed service provider announced its credit facility has increased to $575 million. Along with its $135 million increase, the credit facility was converted from a secured facility to an unsecured facility and the term extended through May 1, 2017.
“QTS appreciates the confidence and trust of our lending partners. This announcement is a strong endorsement of our company’s success and growth and reinforces our partnerships with these financial institutions,” said Chad Williams, chief executive officer, QTS. “The credit facility allows us to further execute our development strategy. The financial flexibility enables us to focus on the continued expansion of our facilities in Atlanta, Richmond, Santa Clara and Sacramento and commence development of our recently acquired facility in Dallas.”
QTS’s expansion is continuing across the United States. Data Center Knowledge recently covered QTS growth in major markets such as Dallas (QTS Enters Dallas Market, Buys 700,000 SF Facility), Sacramento (QTS Acquires Herakles to Expand into Sacramento), and a new project in Richmond (New QTS Lab Will Advance High-Security Federal Clouds).
QTS engaged KeyBank National Association to serve as administrative agent and KeyBanc Capital Markets to serve as sole lead arranger for the amendment and extension. Eight additional financial institutions have joined KeyBanc Capital Markets as credit facility participants, including Bank of America Corp., Deutsche Bank Trust Company Americas, Goldman Sachs Bank USA, an affiliate of The Goldman Sachs Group, Inc., JPMorgan Chase & Co., Morgan Stanley Bank, Regions Bank and Stifel Bank & Trust.