New York, NY (March 23, 2011) – The Telx Group, Inc., a leading interconnection and colocation provider in strategic North American markets, today announced that it closed a $200 million amendment and incremental senior secured credit facility, including a $25 million revolving line of credit. This financing provided for an amendment to reduce the interest rates applicable to the term loan and an incremental term loan of $50 million.
“This amendment to improve our rates and new incremental secured credit facility continues to position us for future growth as a leading provider of interconnection and colocation services,” said Chris Downie, President and Chief Financial Officer of Telx. “We are pleased to receive continued support from the financing community in recognition of Telx’s strong business model and growth.”
The proceeds of the incremental senior secured credit facility term loan will be used for facility expansions and provide for future working capital requirements and for other general corporate purposes. The revolving loan was undrawn at closing and will be used for future working capital requirements and other general corporate purposes. The term loan portion of the senior secured credit facility has a term of five years and the revolver portion has a term of four years from the closing date of the original term loan in June 2010.
Goldman Sachs Lending Partners LLC acted as Lead Arranger and along with SunTrust Robinson Humphrey as Bookrunner and ING Capital LLC as Syndication Agent.
Telx is a leading provider of interconnection, colocation and business exchange services in strategic, high demand North American markets. With 15 premier facilities, Telx increases speed to market and reduces connectivity costs by providing direct connections to the industry’s highest performance networks and access to more than 880+ leading telecommunications carriers, ISPs, content providers and enterprises. Telx is a privately held company headquartered in New York City with four facilities in the New York Metro area, two facilities in Chicago, two facilities in Dallas, three facilities in California, (Los Angeles, San Francisco and Santa Clara) and facilities in Atlanta, Miami, Phoenix and Charlotte, N.C. For more information about Telx, visit www.telx.com. To become a fan of Telx on Facebook, go to http://www.facebook.com/telxgroup.
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