Cyxtera, a global provider of data center colocation and interconnection services, closed an accounts receivable securitization facility of $37.5 million with PNC Bank. The new facility provides increased availability and reduced interest expense compared to Cyxtera’s former accounts receivable factoring facility. The facility has a committed term of three years.
“This new facility is an important piece of our overall liquidity and financing strategy, and we are very pleased with the terms of the facility as it provides us with greater flexibility and a low-cost source of capital,” Carlos Sagasta, CFO of Cyxtera, said.
