(WEB HOST INDUSTRY REVIEW) — Data center operator DuPont Fabros Technology (www.dft.com) announced on Tuesday it has secured an additional $15 million in funding by expanding its existing credit line, according to a report by Data Center Knowledge.
The company said it has used an “accordion” feature of its unsecured revolving credit facility to increase the current borrowing amount from $85 million to $100 million.
None of the other key terms of the credit line, which expires in May 2013, have been changed.
And despite having it in place for the past several months, DuPont Fabros has not actually borrowed any money through the credit line.
The company announced in May it had secured the credit line, as well as revealed plans to sell at least 11 million shares of common stock to finance the completion of its massive data center projects in Virginia and Silicon Valley.
Last month, Dupont said it would resume construction on its 360,000 square-foot data center project in Santa Clara after almost two years of putting the project on hold.
The funding will allow the data center REIT to complete huge projects in Virginia and Silicon Valley.
“We are pleased to have expanded the facility and filled the accordion,” says Mark Wetzel, chief financial officer and treasurer of DuPont Fabros. “The additional capital capacity provides the financial flexibility to fund the future growth for the company.”
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