Daily News: May 14, 2013

Wells Fargo Leads Facility for Software Data Center Provider

IO, a software-defined data center provider, announced the closing of a new $260 million multi-year credit facility led by Wells Fargo. IO’s existing bank group, consisting of Wells Fargo and Mutual Bank of Omaha, has been expanded to include Bank of America, Bank of Montreal, JPMorgan Chase, Royal Bank of Canada, National Bank of Arizona, Goldman Sachs Lending Partners and Morgan Stanley Bank.

Wells Fargo Securities, BMO Capital Markets, J.P. Morgan Securities, Merrill Lynch, Pierce, Fenner & Smith Incorporated and RBC Capital Markets served as joint lead arrangers.

“We are pleased to have led the charge in this financing for IO, and we look forward to IO’s continued success and growth,” said Frank Pizzo, managing director and head of the Loan Syndications and High Yield Debt Capital Markets group at Wells Fargo Securities.

“This new credit facility will help IO to continue to design, engineer and deliver the world’s leading software-defined data center technology,” said George D. Slessman, IO CEO and product architect. “Our IO Intelligent Control platform solves the data center needs of our customers in an efficient, scalable and cost-effective manner. We are pleased to continue our relationship with Wells Fargo and Mutual of Omaha, and welcome the new members of the bank group to IO.”

IO has pioneered the next-generation of data center infrastructure technology, which lowers the total cost of data center ownership for enterprises, governments and service providers.