RBC Capital, TD Upsize Facility for Latisys
Latisys announced the expansion of its credit facility with RBC Capital Markets and TD Securities (USA) and funded by a consortium of over 20 leading financial institutions and institutional investors.
The company said the facility was increased from $200 million to $220 million and pricing was reduced by 20% from the agreement executed in March 2013 – a 6-year, $180 million institutional term loan and a 5-year $20 million revolving credit facility.
The expanded facility, which was rated by Standard and Poor’s Rating Services and Moody’s Investors Service, was substantially oversubscribed with commitments from several leading sector lenders and institutional investors — reflecting strong support for the Latisys’ operational execution and accelerating growth.
The availability of new capital will be deployed across Latisys’ IT Infrastructure-as-a-Service platform to drive customer acquisition by supporting
Englewood, CO-based Latisys is a provider of hybrid cloud hosting and data center solutions to medium-sized businesses, enterprise customers and government agencies.