CyrusOne secures $9.7 bn in new debt capital to fund data center growth

CyrusOne, a leading global data center owner, developer and operator specializing in delivering state-of-the-art digital infrastructure solutions, announced the closing of a $7.9 billion Warehouse Credit Facility. The executed transaction is incremental to the $1.8 billion Revolving Credit Facility financing completed in May, leading to approximately $9.7 billion of additional debt capital raised with broad-based support from lenders.

“The successful closing of this significant financing, combined with our strong business outlook for growth, expands our ability to deliver world-class digital infrastructure projects that meet the growing needs of our customers while positioning CyrusOne for future investment and development opportunities,” said Eric Schwartz, Chief Executive Officer at CyrusOne. “We are extremely grateful to our financial partners for their continued support of CyrusOne.”

“We are pleased to announce the completion of the Warehouse Credit Facility and the Revolving Credit Facility, both of which will provide CyrusOne with attractively priced capital and enhanced liquidity,” said Fran Federman, CyrusOne’s Chief Investment Officer. “Our ability to raise these debt facilities and the tremendous interest that we have received from the lender community are a testament to the strength of our business and the market’s confidence in our ability to continue to build on the significant momentum we have achieved thus far.”

The Warehouse Credit Facility will primarily fund existing and future development projects in the United States, while the global Revolving Credit Facility will be used for working capital and for general corporate purposes. Both facilities are sustainability-linked and align with sustainability-linked loan principles. Accordingly, the pricing on the debt facilities will be adjusted based on our achieving target reductions in Greenhouse Gas Emissions.

In the past year, CyrusOne has taken steps to further meet customer demand for AI while enhancing the company’s sustainability goals. In 2023, CyrusOne launched Intelliscale, a state-of-the-art AI workload-specific data center solution developed to address the rapidly growing needs of AI applications and services. CyrusOne also maintains a strong commitment to sustainability, and last year announced its plan to accelerate its net-zero carbon pledge by a decade to 2030.

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