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QTS Announces $270 Million Increase to Credit Facility

Wednesday, February 15, 2012 9:00 AM


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KANSAS CITY, KS -- (Marketwire) -- 02/15/12 --


Key Highlights:

  • Financial institutions demonstrate continued confidence in QTS' growing data center business.
  • QTS closes an additional $270 million in commitments from several financial institutions, increasing total credit facility capacity to $440 million.
  • Accordion feature will allow QTS to increase the size of its credit facility by an additional $100 million to $540 million in the future.

QTS (Quality Technology Services), one of the nation's largest and fastest-growing providers of data centers and managed services, today announced that commitments from several financial institutions, some of which participate in the existing credit facility, have increased the capacity of the company's credit facility by $270 million and extended the maturity date to September 28, 2014. The existing credit facility, which was originally instituted in September 2010 and now totals $440 million, is comprised of a $125 million term loan facility and a $315 million revolving credit facility. The facility is secured by the QTS Atlanta Metro Data Center and QTS Suwanee (Atlanta) Data Center assets. With 990,000 square feet, the Atlanta Metro Data Center is one of the largest data centers in the world. The credit facility also provides a $100 million accordion feature that can increase the amount of the facility up to $540 million.

The credit facility was arranged by Key Bank National Association, which also serves as administrative agent. Twelve additional financial institutions have joined lead arranger KeyBanc Capital Markets as credit facility participants, including Citibank, N.A. (NYSE: C), Deutsche Bank Trust Company Americas (NYSE: DB), Regions Bank (NYSE: RF), Bank of America, N.A. (NYSE: BAC), Goldman Sachs Bank USA, an affiliate of Goldman Sachs Group Inc. (NYSE: GS), Caterpillar Financial Services Corporation (NYSE: CAT), Credit Suisse, Morgan Stanley Bank, N.A., UBS Loan Finance LLC (NYSE: UBS), Royal Bank of Canada (NYSE: RY) and Stifel Bank & Trust (NYSE: SF).

"QTS appreciates the support and confidence that these financial institutions have demonstrated in the future of QTS," said Bill Schafer, chief financial officer - QTS. "The increased credit capacity enhances QTS' financial flexibility as the company continues to expand its data center facilities in Atlanta, Richmond, Jersey City and Santa Clara. The credit facility will also allow us to repay existing debt, fund development to meet customer demand in other potential markets, and focus on future opportunities."

About QTS
QTS (Quality Technology Services) is a leading national provider of data center solutions and fully managed services for enterprise businesses. The company offers a complete, unique portfolio of core data center services, including custom data center, colocation and cloud services, providing the flexibility, scale and security needed to support the rapidly evolving infrastructure demands of web and IT applications. With 12 locations in seven states, QTS owns, operates and manages 3.1 million square feet of secure, state-of-the-art data center infrastructure and supports more than 700 customers. For more information about QTS, please visit www.qualitytech.com, call 877.QTS.DATA or follow QTS on Twitter @DataCenters_QTS.

Contact:
Anna Ruth Williams
communications 21
404-814-1330
arwilliams@c21pr.com

(Source: Market Wire )
(Source: Quotemedia)

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