Switch & Data Scores $100M Cash Infusion

Channel Partners

September 9, 2009

1 Min Read
Switch & Data Scores $100M Cash Infusion

Switch & Data (SDXC) shares were up nearly 2 percent Wednesday on news the data center and Internet exchange services company has scored $100 million in financing.

The Florida-based company’s stock was trading at $13.42 at 1:48 p.m. Eastern.

Switch & Data will use the cash infusion to expand its Atlanta site, as well as locations in what it called “other high-growth markets.”

“Network-centric companies are rolling out multiple new service offerings which continue to demand more infrastructure and interconnection capacities across more local, regional and global markets,” Keith Olsen, president and CEO of Switch & Data, said in a press release.

RBC Capital Markets provided the $100 million, which is available to Switch & Data as delayed draw term loans to be accessed over the next 12 months. Switch & Data will repay the money starting in 2011 and ending in 2014.

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