CoreSite Realty closes USD 275m of new financing

CoreSite Realty Corporation (NYSE: COR), a provider of interconnection solutions across the US, has executed two separate financing transactions resulting in additional liquidity of USD 275m, which will be used to pay down all outstanding amounts on the revolving portion of its existing credit facility and for general corporate purposes, the company said.

The first transaction results in an incremental USD 100m of liquidity by expanding the existing USD 100m senior unsecured term loan of CoreSite´s operating partnership, CoreSite, L.P., originally scheduled to mature in 2019, to USD 200m.

The expanded term loan has a new five-year term maturing in April 2022, and bears interest at a variable rate.

Royal Bank of Canada will serve as administrative agent and RBC Capital Markets LLC, Regions Capital Markets, TD Securities (USA) LLC and Wells Fargo Securities, LLC served as joint lead arrangers and joint book managers.

CoreSite Realty Corporation delivers secure, reliable, high-performance data center and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,000 of the world´s enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads.