Stonecourt Capital’s data centre unit refinances all debt to fuel expansion

With 13 facilities across the US and several M&A transaction carried out throughout 2021, the operator is gearing up for a busy 2022.

By João Marques Lima

Founder and Editor, The Tech Capital

3 Mins

December 09, 2021 | 6:59 AM GMT

Stonecourt Capital’s data centre unit refinances all debt to fuel expansion

Bob DeSantis - Chief Executive Officer - 365 Data Centers. Source: 365 DCs

The Tech Capital

365 Data Centers has refinanced all of its existing debt and secured additional financing commitments from a group of investors to fuel expansion.

Investors include TD Securities, ING Capital LLC, CIT Group, Regions Capital Markets, and Boundary Street Capital.

Bob DeSantis, CEO of 365 Data Centers, said: “Our demonstrated ability to finance, acquire, and integrate complementary assets into a scalable Infrastructure-as-a-Service platform while generating strong financial results rendered an attractive financing opportunity to a syndicate of lenders that are the leaders in the data centre financial markets.

“This refinancing, on very favourable terms, will measurably increase 365’s cash flows and secures significant funding commitments to enable us to continue to make prudent investments in support of 365’s acquisition and customer growth strategies.”

365 Data Centers operates today 13 facilities in locations including Boca Raton, Bridgewater (New Jersey), Buffalo, Chicago, Commack (Long Island), Detroit, Fort Lauderdale, Herndon, Indianapolis, Nashville, Philadelphia, New York City, and Tampa.

The portfolio has an aggregated floor size of 242,000 square feet and 23 MW of power, along with an US-wide fibre network. 365 serves more than 1,250 customers.

Edward Kim, Director with TD Securities, said: “TD is pleased to have led this important financing for 365.

“We have continued to be impressed by the Company’s cadence of growth, both organically and through acquisition, and we look forward to supporting 365’s management team and ownership in its next phase of expansion in the coming years.”

TD Securities served as Joint Lead Arranger, Joint Bookrunner and Administrative Agent on the financing.

365 has this year carried out several acquisitions, including Atlantic Metro Communications last November which included a data centre in Virginia as well as dozens of points-of-presence (PoP) across the US and overseas.

The operator was itself a target for acquisition having been acquired by Stonecourt Capital LP in October 2021. The deal saw original investors Lumerity Capital and Longboat Advisors reinvesting into the new partnership.


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João Marques Lima

Founder and Editor, The Tech Capital

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