TierPoint Secures $250 Million Financing

US colo company TierPoint this week said its parent­ company had closed a $250 million term loan, a portion of which is a delayed draw term loan which complements TierPoint’s asset-backed securitization (ABS) and variable funding notes (VFN) program.

“Our ability to continue successfully accessing the capital markets is a testament to the work of our world-class employees and the sustained growth that our company is delivering,” said TierPoint president and CFO, Mary Meduski. “That growth is fueled by robust market demand for our IT infrastructure solutions, including our market-leading colocation services for both enterprise and artificial intelligence workloads. This term loan positions us to continue capitalizing on that demand and serving our customers with excellence.”

Apterra co-CEOs, Michael Pantelogianis and Ralph Cho, said: “We are pleased to have led this term loan. The impressive investor demand reflects TierPoint’s strong credit profile and robust business model.”

CSC Delaware Trust Company is the collateral agent and depositary bank. Bank Street Group LLC and Seyfarth Shaw LLP served as advisor and counsel, respectively, to TierPoint’s parent company. Milbank LLP served as counsel to Apterra. Perkins Coie served as counsel to CSC Delaware Trust.