IO Data Centers (“IO”), the leading provider of data centers as a service (DCaaS™), today announced the closing of $200,000,000 in two financings, including a senior long term credit facility of up to $130,000,000 led by Wells Fargo Bank, N.A., as Administrative Agent and Wells Fargo Securities, LLC, as Sole Lead Arranger and Sole Book Manager, and a $70,000,000 secured facility led by Caterpillar Financial Services Corporation.
In making the announcement, George D. Slessman, CEO of IO, said that “Demand for data centers as a service continues to be strong. This new long term capital enables IO to execute its Enterprise Class Data Center Roadmap. We will add 35 megawatts of data center capacity for our customers within the next 12 months.”
In addition, Jonathan F. Mauck, CFO of IO, noted that “The next phase of our growth plan is fully funded.”
Steven Reinhart, Senior Vice President of Wells Fargo, said that “The strength of IO’s customer base, balance sheet and cash flow are a testament to the strength of its business model and management. We look forward to a long term relationship with IO.”
William Luetzow, Managing Director of Caterpillar Financial Services’ Global Power Finance-Americas, added, “We’ve enjoyed a long-term financing relationship with IO since its inception. The high quality IO power systems and their customer base of multi-national enterprises are an excellent fit with Caterpillar’s worldwide finance and distribution capabilities.”
IO has grown rapidly over the past three years and recently announced the launch of IO.Anywhere™ – a modular data center service that allows IO to deploy data center capacity anywhere a customer requires it.
Slessman added that, “This latest financing, key additions to our management ranks, and our world class customer base position IO for additional growth and success as the industry’s leading provider of enterprise colocation and data center solutions.”
Founded in 2007, IO provides the data center as a service @scale™. IO internet data centers are engineered to deliver the optimal data center capacity, security, network and cloud inter-connectivity for mission critical applications of any scale. IO operates large data center campuses, featuring over 2 million square feet, hundreds of networks and 300 MWs in North America and Singapore. For more than a decade, IO has earned the trust of the most demanding technology users by delivering the data center at scale to digital-first enterprises, cloud companies, hyperscale service providers, governments and businesses worldwide. To learn more about IO @scale™, visit io.com.
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