Flexential Closes $250 Million Debt Offering in Support of Its Continued Strategic Growth

By AIT News Desk On Feb 6, 2020

Funds provided through the issuance of $250 million in Senior Secured Notes

Flexential Corp., a leading provider of data center colocation and hybrid IT solutions, announced that its parent, Flexential Intermediate Corporation, issued $250 million of Senior Secured Notes due 2024. Flexential (created in August 2017 following the merger of Peak 10 and ViaWest) operates 40 highly redundant and connectivity-rich data centers spanning 21 markets. Over the last two years, the company has experienced robust customer demand in its core markets and has added additional capacity in response. Flexential will utilize the net proceeds from the offering, after repaying the entire amount outstanding under its first lien revolving credit facility, to support continued expansion in its key markets as well as to fund additional investments in support of its hybrid IT solutions offering.

“We are pleased that the financing provides Flexential with long-term capital to support our continued expansion,” said Chris Downie, Chief Executive Officer, Flexential. “We continue to see robust demand for our connectivity-rich platform and look forward to expanding our offerings to meet market demand.”

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The notes and the guarantees were offered and sold only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended , and to certain non-U.S. persons in accordance with Regulation S under the Securities Act and other applicable securities laws. The notes and the guarantees will not be registered under the Securities Act or the securities laws of any state or any other jurisdiction and may not be offered or sold in the United States absent an effective registration statement or an applicable exemption from the registration requirements under the Securities Act and applicable state securities laws and foreign securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the notes and related guarantees, nor shall there be any sales of the Senior Secured Notes in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.