DuPont Fabros Technology Announces Data Center Expansion

December 3, 2009 by · Comments Off on DuPont Fabros Technology Announces Data Center Expansion 

Web Hosting ToolboxWASHINGTON – DuPont Fabros Technology, Inc. (NYSE: DFT) today announced that the Company closed on a $150 million secured loan with a syndicate of lenders led by TD Bank. The loan has a five-year term at a floating rate of LIBOR plus 4.25% with a LIBOR floor of 1.50%. The loan is secured by the Company’s newly constructed ACC5 data center asset in Ashburn, Virginia. The Company expects to use the proceeds to repay the current $25 million term loan secured by the ACC5 data center, construct Phase II of ACC5, fund an interest reserve of $10 million required under the new term loan and for general corporate purposes.

The loan includes an accordion feature that allows new lenders to join the existing bank syndicate to increase the amount of the loan up to an additional $100 million if certain leasing and other covenants have been met.
Read more