CoSentry Refinances, Has $100 Million For Continued Expansion

A refinancing of its credit facilities provides CoSentry with up to $100 million for continued expansion in the Midwest.

CoSentry has completed a refinancing of its existing credit facilities that provides the company with up to $100 million of capital for continued expansion and future growth initiatives.

The big Midwest data center player will use the proceeds to fund the expansion of its Midlands Data Center in Omaha, NE, which will be commissioned in October 2013. It will be used to fund other future expansion of both facilities and capabilities, as well as for repaying existing debt facilities.

Entities sub-advised by an affiliate of GSO Capital Partners LP (the credit business of Blackstone) provided the credit facility to Cosentry.

“We are very pleased to establish this partnership with GSO Capital Partners as we enter a period of even more rapid expansion and growth than we have experienced historically,” said Mike Polcyn, CFO of Cosentry.  “Our clients and partners have relied on our ability to expand and innovate, and this new credit facility assures we will continue to meet their needs.”

Cosentry currently has a network of six data centers located in the Midwest serving enterprise and mid-market clients. The company recently announced it was doubling capacity in Omaha, as well as named Brad Hokamp as CEO.

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