CyrusOne lowers interest, increases revolver, extends loan, revolver

By Angela McDaniels

Tacoma, Wash., Nov. 21 – CyrusOne Inc. said its operating partnership, CyrusOne LP, entered into an amended senior credit agreement that increased the revolving credit facility by $350 million to $1 billion, lowered interest rates and extended the revolver and one term loan.

The total size of the facility is now $1.55 billion. In addition to the revolver, it includes a $300 million term loan and a $250 million term loan, according to a company news release.

The interest rate on the term loans was decreased by 15 basis points to Libor plus 150 bps, and the interest rate on the revolving loans was reduced by 15 bps to Libor plus 155 bps.

The maturity of the $300 million term loan was extended to January 2022, the maturity of the revolver was extended to November 2020, and the maturity of the $250 million term loan remains September 2021.

The company has the option to extend the final maturity of the revolver to November 2021.

The credit agreement contains an accordion feature that allows the company to obtain up to $300 million of additional revolving or term loan commitments.

KeyBank NA is the administrative agent. JPMorgan Chase Bank, NA is the syndication agent. KeyBanc Capital Markets Inc., JPMorgan and TD Securities (USA) LLC are the joint lead arrangers. SunTrust Bank and Citizens Bank, NA are the co-documentation agents.

Also participating in the credit facility are Bank of America, NA; Barclays Bank plc; Citibank NA; CoBank, ACB; Deutsche Bank AG, New York Branch; Goldman Sachs Bank USA; Morgan Stanley Bank, NA; Morgan Stanley Senior Funding, Inc.; PNC Bank, NA; Raymond James Bank, NA; Royal Bank of Canada; Synovus Bank; MUFG; Toronto-Dominion Bank, New York Branch and Woodforest National Bank.

CyrusOne is a Dallas-based real estate investment trust specializing in carrier-neutral data center properties.

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