With its debt refinanced and additional funding on hand, hybrid data center service provider 365 Data Centers is looking to accelerate its already breakneck expansion plans. Apart from add-on equity funding from its original investors, the company announced late March that I has secured additional debt financing commitments from Antares, ING Capital, and TD Securities.
Here is an excerpt from a report filed in Datacenter News:
In April 2017, the current owner-operators of 365 Data Centers initiated acquisitions of ten, primarily edge, data centers in Boca Raton, Buffalo, Chicago, Detroit, Fort Lauderdale, Indianapolis, Nashville, Philadelphia, New York City and Tampa.
Throughout 2018, the Company expanded and upgraded its network by equipping and redundantly connecting all ten data centers and twenty additional points of presence. It invested in cloud, back-up, and Disaster-Recovery-as-a-Service platforms to add capacity and enhance performance, rolled out network, cloud, and other managed services in all ten markets, and became a scalable Infrastructure-as-a-Service business.
“Our demonstrated ability to finance, acquire, and integrate complementary platform assets into a scalable provider of hybrid data center services, while generating significant financial performance improvements, rendered an attractive financing opportunity to a syndicate of lenders who are the leaders in the data center financial markets,” says 365 Data Centers CEO Bob DeSantis.
“We are pleased to have refinanced our existing debt on very favorable terms, as warranted by our continuous deleveraging, and have secured additional equity and debt funding commitments. The now expanded lender base and financing capacity along with continued support from our current investors, Chirisa Investments, Lumerity Capital, and Longboat Advisors, well positions 365 to continue to make prudent investments in support of our growth strategy.”