CoreSite raises facility to $600 million, increases accordion option

By Tali Rackner

Norfolk, Va., Feb. 3 – CoreSite, LP amended its unsecured credit facility on Tuesday to partially exercise the accordion feature and increase total commitments by $100 million, according to an 8-K filing with the Securities and Exchange Commission.

The total borrowing capacity is now $600 million.

The $100 million term loan matures in February 2021 and bears interest at Libor plus 150 basis points to 220 bps.

Net proceeds will be used to partially pay down the current revolving credit facility balance, as well as for general corporate purposes.

In addition, the accordion option was increased by $100 million, which allows for an increase in total commitments to $800 million.

KeyBank NA is the administrative agent on the facility. Keybanc Capital Markets, RBC Capital Markets, LLC, Regions Capital Markets and TD Securities (USA) LLC are joint lead arrangers and book managers.

CoreSite is a Denver-based provider of data center products and interconnection services.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.