BofA, Comerica Bank Co-Lead RagingWire Financing
RagingWire Data Centers announced that the company has raised a $230 million credit facility to fund its strategic growth plan and ongoing expansion of its data center campuses in Sacramento, CA, and Ashburn, VA. The syndicate funding the investment was led by Bank of America Merrill Lynch, co-led by Comerica Bank, and included eight financial institutions in total.
The interest rate varies from 200 to 350 basis points over LIBOR depending on leverage.
Mark Morrow, CFO, RagingWire Data Centers, said, “We are pleased that our company is attracting significant investments from top financial institutions,” said Mark Morrow, chief financial officer at RagingWire. “The credit facility is structured to give us the ability to execute our strategy to grow the company rapidly and responsibly at favorable rates and terms. We would like to thank Bank of America Merrill Lynch for the outstanding job they did in leading the syndicate. We are excited to welcome the new banks who participated and sincerely appreciate their confidence in RagingWire.”
“Our experience with RagingWire and knowledge of the data center industry drove us to arrange the bank group to fund RagingWire’s growth,” said Alicia Madsen, senior vice president, senior client manager of Bank of America Merrill Lynch. “RagingWire’s innovation, product excellence, and world-class customer experience put them at the top of the data center industry and position them for continued success.”
Founded in the year 2000, RagingWire has played a key role in the development of the data center colocation industry. The company is recognized for its patented design, 100% uptime, and world-class customer experience. RagingWire’s 500,000 square-feet data center campus in Sacramento is almost entirely full and plans are underway for an additional facility in the area. In Ashburn, Virginia, the heart of “Data Center Alley,” RagingWire has five data center vaults within a 150,000 square foot facility and plans to build a 1.5 million square-feet campus on 78 acres of land in Ashburn that the company recently acquired.
RagingWire designs, builds and operates mission-critical data centers that deliver high-density power and 100% availability.