Peak 10 Gets $60M Credit Facility

• By theWHIR.com , May 09, 2008

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May 9, 2008 -- (WEB HOST INDUSTRY REVIEW) -- Data center operator and managed service provider Peak 10 (peak10.com) reported Friday morning that it had amended and expanded its credit facility to the amount of $60 million.

Arranged by RBC Capital Markets with the support of syndication agent GE Capital Corporation and bank syndicate partner CIT, the credit facility, says Peak 10, is already earmarked for capital expenditures that will fuel the company's organic growth as well as for general corporate purposes.

"This expanded credit facility sends a powerful message to our customers, namely that we have positioned Peak 10 to expand to meet their growth needs and technical service needs for the future," said David Jones, president and CEO of Peak 10 in the company's press release. "At the same time, we remain aggressive with options to expand into more markets and to execute our strategic growth initiatives."

Peak 10 says it has grown steadily since 2001, in local markets and through acquisitions of data centers in Louisville, Nashville and Richmond. In fall 2007 Peak 10 opened a facility in Atlanta that it had built from the ground up and it moved into Cincinnati in December.

According to the company, the growth of its services is attributable to its improving reliability, lowering costs and maximizing internal resources for customers while keeping information technology assets close to the business.

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