ENGLEWOOD, CO--(Marketwire - Mar 7, 2013) - Latisys, a leading provider of Infrastructure as a Service (IaaS) solutions spanning data center colocation, managed hosting, cloud and hybrid infrastructure, today announced a new $200 million credit facility including a 6-year, $180 million institutional term loan and a 5-year $20 million revolving credit facility.
The credit 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 company's operational execution, accelerating growth and national IT Infrastructure-as-a-Service (IaaS) platform.
Over the past 4 years Latisys has invested over $125 million to extend its datacenter colocation, hosting and cloud footprint to respond to increasing demand for IaaS and IT outsourcing. In 2012, Latisys completed construction of its 2nd Tier III datacenter campus in Denver, Colorado, and executed significant data center expansions in Ashburn, VA, Chicago, IL and Irvine, CA. Latisys also deployed a next generation managed hosting and cloud platform and launched its unified service desk in 2012 -- strategic technology and operational investments that enable Latisys to continue providing secure, scalable, high performance infrastructure outsourcing -- particularly for mid-size and enterprise clients with complex, hybrid IaaS requirements.
The availability of new capital in 2013 will be deployed across Latisys' IaaS platform to drive accelerating growth and customer acquisition:
- Continued facility expansion to ensure the availability of high density capacity for current and future customers
- Technology platform enhancements to support cloud adoption and enable clients to enhance their security and disaster recovery posture
- Investment in highly skilled, credentialed personnel, supported by tools and automation to simplify IaaS deployment and support
"Latisys' growth strategy centers around ongoing strategic expansion of our IaaS platform and our ability to provide innovative right-sized, hybrid IT solutions that solve business problems," said Doug Butler, Chief Financial Officer for Latisys. "The new credit facility provides additional capital necessary to maintain technology leadership as well as additional support services required to respond to increased demand for higher margin managed hosting and cloud services."
The oversubscribed $200,000,000 credit facility was arranged by RBC Capital Markets, TD Securities (USA) LLC and SunTrust Robinson Humphrey, Inc. (each Joint Lead Arrangers and Bookrunners on the offering) and funded by a consortium of over 20 leading financial institutions and institutional investors.
Latisys' national expansion has been ongoing through 2012 and into 2013. Recent announcements include DEN2 -- Latisys' newest state-of-the-art data center in Denver -- along with the ASH1 DC5, CHI DC6 data centers that added 22,000 and 10,000 sq. ft. of secure, ultra high-density raised floor in Northern Virginia and Chicago respectively. In Southern California, Latisys recently announced an additional 12,000 square feet in its Irvine, CA data center, making Latisys the largest data center operator in Orange County. Latisys' total data center platform now exceeds 343,000 square feet across seven data centers in four major markets.
Latisys is a leading national provider of colocation, managed hosting, managed services, disaster recovery and private cloud solutions to medium-sized businesses, enterprise customers and government agencies. With a heritage of serving business customers since 1994, and multiple high-density data centers across the United States, 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 and Irvine, California -- Latisys is quickly becoming the IaaS platform of choice for companies that seek for a true IT infrastructure partner for whom it isn't "either / or" between colo, cloud, managed hosting and traditional on-premise IT -- but rather "all of the above" delivered in a hybrid fashion.. Call 1-866-956-9594, visit www.latisys.com or follow us on Twitter at twitter.com/latisys for additional information.
- Technology & Electronics
Carter B. Cromley