CyrusOne has closed on a $7.9 billion warehouse credit facility to help fund its business developing, owning and operating data centers, in line with growing demand for artificial intelligence applications and services.
Incremental to a $1.8 billion global revolving credit facility completed in May, it could boost the company's lender-driven debt capital capacity to $9.7 billion in total, according to a statement from the company. Morgan Stanley, TD Securities and KKR Capital Markets served as lead arrangers for the warehouse credit facility, while Wells Fargo served as lead arranger for the revolving credit facility.
The launch means that CyrusOne has two credit facilities at its disposal—which also align with sustainability-linked lending principles. The warehouse will fund existing and future development projects in the United States. Working capital and money general corporate purposes will come from the global revolving credit facility.
CyrusOne, a global data center owner, regularly raises funds from the securitization market, and recently sponsored a $587 million deal through the CyrusOne Data Centers Issuer I, according to Asset Securitization Report's deal database.
