TierPoint plans new debt financing for Xand purchase

By Sara Rosenberg

New York, Oct. 24 – TierPoint plans on getting new debt to help fund its acquisition of Xand from ABRY Partners, according to a news release.

RBC Capital Markets and Credit Suisse are the lead banks on the debt.

Other funds for the transaction will come from incremental equity from TierPoint’s existing investors as well as a new investor, Ontario Teachers’ Pension Plan.

TierPoint’s current investor group includes Cequel III management led by Chairman Jerry Kent, RedBird Capital Partners, The Stephens Group, Jordan/Zalaznick Advisers Inc. and Thompson Street Capital Partners.

TierPoint is a St. Louis-based provider of cloud, colocation and managed services. Xand is a Hawthorne, N.Y.-based provider of data center, cloud and managed services.

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