Daily News: August 31, 2018

SunTrust Agents $25MM Upsize to DataBank Facility


DataBank completed an additional $25 million upsize to its existing senior secured first-lien term loan B.

SunTrust Robinson Humphrey acted as administrative agent and lead arranger on the transaction.

The incremental term loan increases the total size of DataBank’s credit facility to $435 million. The company plans to use the additional financing to further its data center development activities and pay down borrowings under its revolving credit facility, which will strengthen its liquidity and overall credit position.

“We are appreciative of the support from our lender group in allowing us to increase the size of our credit facility,” said Kevin Ooley, president and CFO of DataBank. “We look forward to continuing to invest in building out our data center capacity to meet the demand from new and existing customers.”

Operating 15 purpose-built data centers in 8 markets, DataBank offers a full suite of infrastructure solutions, including colocation, compliant cloud hosting, security and network services.