CyrusOne gets $450 million revolving facility, $150 million term loan

By Jennifer Chiou

New York, Oct. 9 – CyrusOne Inc. announced that its operating partnership, CyrusOne LP, has closed a new $450 million senior revolving credit facility and a $150 million senior term loan.

KeyBank NA acted as administrative agent with J.P. Morgan Chase Bank, NA as syndication agent and KeyBanc Capital Markets Inc., J.P. Morgan Securities LLC, Barclays, RBC Capital Markets and TD Securities (USA) LLC as joint lead arrangers.

There is an accordion feature that allows the company to increase the aggregate commitments by up to $300 million.

Borrowings under the revolver bear interest at Libor plus 170 basis points.

The revolver is scheduled to mature in October 2018 and has a one-year extension option.

The term loan will initially bear interest at Libor plus 165 bps and will mature in October 2019.

According to a news release, CyrusOne drew $75 million of the term loan at closing. The company can make up to two addition draws within six months of the closing date.

The revolver replaces the company’s $225 million secured credit facility, which previously bore interest at Libor plus 325 bps.

Dallas-based CyrusOne provides data center facilities.

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