PHOENIX, Oct. 11 /PRNewswire/ -- i/o Data Centers ("i/o"), 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 i/o, said that, "Demand for data centers as a service continues to be strong. This new long term capital enables i/o 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 i/o, 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 i/o'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 i/o."
William Luetzow, Managing Director of Caterpillar Financial Services' Global Power Finance-Americas, added, "We've enjoyed a long-term financing relationship with i/o since its inception. The high quality i/o power systems and their customer base of multi-national enterprises are an excellent fit with Caterpillar's worldwide finance and distribution capabilities."
i/o has grown rapidly over the past three years and recently announced the launch of i/o ANYWHERE™ - a modular data center service that allows i/o 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 i/o for additional growth and success as the industry's leading provider of enterprise colocation and data center solutions."
i/o is the leading provider of enterprise colocation and data center solutions. i/o designs, engineers and delivers data centers as a service (DCaaS™) for the world's largest enterprises, governments and service providers with an always-on service level. For more information on i/o, please visit www.iodatacenters.com, become a fan on Facebook, or follow i/o on Twitter.
NOT ALL DATA CENTERS ARE CREATED EQUAL®
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.2 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 10,000 banking stores, 12,000 ATMs, the Internet (wellsfargo.com and wachovia.com), and other distribution channels across North America and internationally. With more than 278,000 team members, Wells Fargo serves one in three households in America. Wells Fargo & Company was ranked #19 on Fortune's 2009 rankings of America's largest corporations. Wells Fargo's vision is to satisfy all our customers' financial needs and help them succeed financially.
About Caterpillar Financial
Headquartered in Nashville, Tenn., Caterpillar Financial Services Corporation is the financial arm of Caterpillar Inc., a Fortune 50 company, a technology leader and the world's largest manufacturer of construction and mining equipment, natural gas and diesel engines, and industrial gas turbines.
SOURCE i/o Data Centers