Vantage Data Centers has increased its revolving credit facility by over 30 percent, from $210 million to $275 million. The company said the additional credit will allow it to continue to its expansion, including forays into new geographic markets.
“We are pleased to close on this oversubscribed, upsized financing with the strong support of five existing banks and three new lenders,” said Sureel Choksi, President and CEO, Vantage Data Centers. "This financing enables Vantage to continue to support the growth of our customers by pursuing significant expansion in Santa Clara, Quincy, and potential new markets."
Vantage has campuses in Santa Clara, California, and Quincy, Washington. The portfolio includes four enterprise-grade data centers totaling over 100 megawatts of potential capacity. Technology investor Silver Lake, which has over $20 billion in combined assets under management and committed capital, backs Vantage.
RBC Capital Markets, Bank America Merrill Lynch, KeyBank Capital Markets, SunTrust and Regions Capital Markets served as Joint Lead Arrangers. ING Capital was Managing Agent and RBC Capital Markets served as the Sole Book Running Manager. Royal Bank of Canada was the Administrative Agent. The bank syndicate also includes Barclays and Western Alliance.