(The Hosting News) – Colo provider Latisys on Thursday announced that it had reached a $200 million credit facility – primarily assisting the company in growing its IaaS platform.
A significant detail of the move includes a 6-year, $180 million loan.
“Latisys’ growth strategy centers around ongoing strategic expansion of our IaaS platform and our ability to provide innovative right-sized, hybrid IT solutions that solve business problems,” stated company CFO Doug Butler in a press release.
Butler went on to say that the move “provides additional capital necessary to maintain technology leadership as well as additional support services required to respond to increased demand for higher margin managed hosting and cloud services.”
Among its goals with the credit facility are expanding with “credentialed personnel,” enhancements to support cloud and facility expansion.
So how successful was securing the funds? Latisys noted the facility “was substantially oversubscribed with commitments from several leading sector lenders and institutional investors.”
Meanwhile, the company also said it had invested $125 million during the past four years to expand its infrastructure.
Latisys currently operates data centers in U.S. locations including Chicago, Denver along with Irvine, California and Ashburn, Virginia. Aside from colocation, the provider’s services pertain to server virtualization, cloud, backup, security and more.