Switch & Data borrows $22.5 million delayed-draw term loan

By Sara Rosenberg

New York, Jan. 8 - Switch & Data Holdings Inc. borrowed $22.5 million under its delayed-draw term loan, according to an 8-K filed with the Securities and Exchange Commission on Thursday.

The draw was made on Jan. 5 and will be used to help fund capital expenditures for 2009, estimated to be $65 million.

Pricing on the delayed-draw term loan can range from Libor plus 350 basis points to 450 bps based on leverage. Current pricing is Libor plus 450 bps.

Switch & Data is a Tampa, Fla.-based provider of collocation and network neutral interconnection services.

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