Regions Bank, BofA Extend QTS Richmond Facility
QTS Realty Trust announced modifications to its Richmond credit facility. The modification includes extending the term to June 30, 2019, and reducing the interest rate by approximately 1.9% to LIBOR plus 2.1%. The amended facility has initial revolving credit commitments of $80 million and includes a $120 million uncommitted accordion feature to increase the revolving credit commitments to $200 million. The financial institutions that currently participate in the credit facility include Regions Bank and Bank of America.
The Richmond credit facility, which originated in December 2012, has an outstanding balance of $70 million. The facility is secured by the QTS Richmond data center.
QTS Realty Trust is a provider of data center solutions and fully managed services.