OVERLAND PARK, Kan., Dec. 21, 2016 /PRNewswire/ — QTS Realty Trust (QTS), one of the nation’s largest and fastest-growing providers of data center facilities and cloud services, and a leader in security and compliance, today announced its unsecured credit facility has been increased to $ 1.2 billion, up from $ 900 million. The unsecured credit facility is comprised of a term loan in the amount of $ 300 million with a 5 year maturity, a term loan in the amount of $ 200 million with a 5.5 year maturity, and a four year $ 700 million revolving credit facility. The revolving credit facility portion also has a one year extension option. Interest rates can vary based on increased leverage levels. The current interest rates on the term loans are LIBOR plus 1.5% and the current rate on the revolving credit facility is LIBOR plus 1.55%, unchanged from the previous facility.
The credit facility also provides for a $ 300 million accordion feature to increase the credit facility up to $ 1.5 billion, subject to obtaining additional loan commitments.
QTS engaged KeyBank National Association to serve as administrative agent and Bank of America, N.A., and TD Securities (USA) LLC. to serve as co-syndication agents, and Citizens Bank, National Association, PNC Bank, National Association, SunTrust Bank, and Regions Bank (RF) to serve as co-documentation agents and KeyBank Capital Markets, Inc. (KEY), Merrill Lynch, Pierce, Fenner & Smith Incorporated (BAC) and TD Securities (USA) LLC, to serve as joint lead arrangers and joint book runners for the amendment and extension. Nineteen financial institutions make up the syndicate for the credit facility.
“QTS appreciates the continued confidence and trust of our lending partners,” said Bill Schafer, Chief Financial Officer – QTS. “The increased credit facility capacity and extended term enhance the company’s financial flexibility and liquidity as we continue to expand our facilities in Atlanta, Dallas, New Jersey, Richmond, Santa Clara and Chicago.”
QTS specializes in acquiring, developing and managing scalable mega data centers in strategic markets. The company’s nationwide distribution maximizes the use of space, power and QTS expertise to support customer growth and overall market demand.
QTS Realty Trust, Inc. (QTS) is a leading provider of secure, compliant data center, hybrid cloud and managed services. QTS features the nation’s only fully integrated technology services platform providing flexible, scalable solutions for the federal government, financial services, healthcare and high tech industries. QTS owns, operates or manages more than 5 million square feet of data center space and supports more than 1,000 customers in North America, Europe and Asia Pacific. In addition, QTS’ Critical Facilities Management (CFM) provides increased efficiency and greater performance for third-party data center owners and operators. For more information, please visit www.qtsdatacenters.com, call toll-free 877.QTS.DATA or follow us on Twitter @DataCenters_QTS.
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