U.S. Bank Expands Net Access Facility
Net Access announced it expanded its senior secured credit facility with U.S. Bank by an additional $9 million, which includes a $5 million increase to their revolving credit line. The company will use a portion of the facility to refinance an existing $5 million of mezzanine debt, while also providing the company increased flexibility to better support its growth objectives.
“We are extremely pleased with the new expanded credit facility with U.S. Bank”, stated Aaron Pullin, VP of Finance of Net Access. “We are in the process of building out our Parsippany II datacenter by an incremental 70,000 square feet and the access to additional capital allows us to invest aggressively to support our sales activities. U.S. Bank was able to act quickly and effectively to meet our needs.”
Net Access is a provider of data center services delivering secure, reliable and flexible colocation, cloud, network and managed solutions to IT intensive businesses.