DataBank, Ltd., a Digital Bridge portfolio company and provider of business solutions for data center, cloud, interconnectivity and managed services, announced it has completed a $410 million Term Loan B credit facility, providing DataBank with additional capital at a lower cost and flexibility to support the company's near and long-term growth objectives. The new facility includes a $50 million revolver to provide ample liquidity for general purposes as well as the ability to accelerate investments. As part of the refinancing, Moody's Investors Service and S&P Global Ratings initiated first-time corporate family ratings (CFR) and first lien credit ratings with a stable outlook.

"We couldn't be more pleased with the level of interest we received from the lending community," said Kevin Ooley, DataBank's President & CFO. "The favorable economics of this refinancing enables us to extend our debt profile to meet our increasing scale and fully fund our continued growth plans. We are well-positioned to capitalize on an ever-increasing demand for our services in the marketplace."

DataBank started in 2005 as single-site provider leveraging the dense carrier connectivity of the former Federal Reserve building in downtown Dallas, Texas. Since then, it has grown through acquisition and organic growth now serving eight major markets from fourteen interconnected sites across the United States. DataBank offers high-tier traditional colocation with a host of interconnectivity as well as build-to-suit hybrid solutions for cloud and managed services.

"For the company, this represents a truly significant milestone," said Raul Martynek, CEO of DataBank. "This vehicle contains the structure and flexibility needed to meet the long-term growth and expansion in both our colocation and cloud platforms."

SunTrust Bank served as Administrative Agent, and SunTrust Robinson Humphrey, RBC Capital Markets, and TD Securities served as Joint Lead Arrangers and Joint Bookrunners. AB Private Credit Investors led the second lien facility. Jones Day served as legal counsel for DataBank.

DataBank operates in Dallas, Minneapolis, Kansas City, Cleveland, Pittsburgh, Salt Lake City, Atlanta, and Baltimore.