Vultr, a privately-held cloud infrastructure company, closed a $255 million syndicated credit facility including a $35 million uncommitted accordion, in addition to $74 million of recently-closed lease financing, for a total of $329 million of credit financing. The syndicated credit facility was led by J.P. Morgan, Bank of America and Wells Fargo, with additional participation from Citi, Goldman Sachs and KeyBank. Vultr plans to use the additional capital to expand its global footprint of artificial intelligence and cloud computing infrastructure to serve its growing customer base.
“J.P. Morgan is thrilled to support Vultr’s continued growth and success,” Lorenzo Colonna di Paliano, innovation economy market executive of J.P. Morgan Commercial Banking, said. “Throughout our longstanding relationship, Vultr has shown time and again their ability to innovate and scale in a dynamic sector. We’re proud to contribute to their journey and help Vultr achieve new heights in the cloud computing industry.”
As part of this new credit facility, Vultr also secured $74 million in capital expenditure financing led and syndicated by Bank of America.
“This financing solution will further support Vultr’s growth objectives and those of their clients,” Theresa Provencher, managing director, syndications in global leasing at Bank of America, said.
“This milestone credit facility from some of the world’s most respected financial institutions is a strong validation of Vultr’s financial strength, operational discipline, and long-term vision,” J.J. Kardwell, CEO of Vultr, said. “Building on our recent $3.5 billion valuation equity financing, this credit facility further accelerates our global expansion. For enterprises, AI innovators, governments and compliance-driven organizations, Vultr provides an independent, transparent and institutional-quality alternative to the hyperscalers.”
