Latisys Expands Credit Facility
Latisys Expands Credit Facility
Additional Funding Priced 20% Lower Supports Continued Acceleration in Business Growth
Press release — Latisys, a leading international provider of hybrid cloud hosting and data center solutions, today announced the expansion of its credit facility with RBC Capital Markets and TD Securities (USA) and funded by a consortium of over 20 leading financial institutions and institutional investors.
The facility was increased from $200 million to $220 million and pricing was reduced by 20% from the agreement executed in March 2013—a 6-year, $180 million institutional term loan and a 5-year $20 million revolving credit facility.
The expanded facility, which was rated by Standard and Poor’s Rating Services and Moody’s Investors Service, was substantially oversubscribed with commitments from several leading sector lenders and institutional investors—reflecting strong support for the Latisys’ operational execution and accelerating growth.
The availability of new capital will be deployed across Latisys’ IT Infrastructure-as-a-Service (IaaS) platform to drive customer acquisition by supporting:
- Continued domestic and international platform expansion ensuring availability of high density capacity for current and future customers
- Continued technology platform enhancements to support hybrid cloud services capabilities enabling mid-size and large enterprise clients to enhance security, disaster recovery and high availability needs
- Continued investment in tools and automation to simplify IaaS deployment, support and further streamline operational processes
Over the past five years Latisys has invested over $150 million to extend its hybrid cloud hosting and data center platform to respond to increasing demand for enterprise-grade outsourced IT infrastructure services. More recently:
- Latisys enhanced its IaaS platform with next generation IT infrastructure monitoring supporting Latisys’ vision for flexible, federated, self-service IT infrastructure services
- Latisys expanded its managed security suite of services designed to holistically address enterprise risk & compliance management challenges
- Latisys completed a significant expansion to is Chicago data center campus adding 25,000 square feet of high density raised floor
- Latisys extended its hybrid cloud hosting platform to the U.K. for new customers seeking a multinational platform
“Latisys’ business growth is fueled by strategic, disciplined investment in both our IaaS platform and in ensuring that Latisys has the expertise necessary to deliver comprehensive IT infrastructure solutions that reduce complexity and add value to our customers,” said Doug Butler, Chief Financial Officer for Latisys. “This expanded credit facility helps ensure that we have the capital necessary to accelerate our momentum and further establish Latisys as a leading provider of hybrid cloud hosting and data center solutions.”
Latisys is highly focused on customer satisfaction, and leads the IaaS industry with a Net Promoter score of 46. Latisys also recently received its first ever inclusion in the 2014 Gartner Magic Quadrant for Cloud-Enabled Managed Hosting, which can be accessed here.
Latisys is a leading provider of hybrid cloud hosting and data center solutions to medium-sized businesses, enterprise customers and government agencies. With a heritage serving business customers since 1994, and multiple high-density data centers across the United States—and now in the United Kingdom—Latisys offers a scalable outsourced IT infrastructure platform that provides customers with what they need, when they need it. As a client-centric company—with state of the art data centers in Ashburn, Virginia, Chicago, Denver, Irvine, California and London—Latisys is quickly becoming the IaaS platform of choice for companies that seek a truly flexible IT infrastructure partner. With a Net Promoter score of 46, Latisys leads the IaaS industry in customer satisfaction.