Flexential raises $250m through debt offering
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Flexential raises $250m through debt offering

Money funding investment.jpeg

Flexential Intermediate Corporation, the parent company of Flexential, has issued $250 million of Senior Secured Notes due 2024.

Flexential will use the net profits 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 at Flexential. "We continue to see robust demand for our connectivity-rich platform and look forward to expanding our offerings to meet market demand."

The move comes as the company, which operates 40 data centres across 21 markets, has been experiencing increased customer demand in its core markets and has had to add additional capacity, over the last two years.  

The notes and guarantees were only offered and sold to those qualified as institutional buyers under rule 144A of the Securities Act, as well as to certain non-U.S. persons in accordance with Regulation S under the Securities Act.

In November 2019, Flexential partnered Seaborn Networks to expand its FlexAnywhere offering via the Seabras-1 Latin American subsea cable.

Under the terms of the agreement, the provider of data centre colocation and hybrid IT solutions will provide customers with direct access to Seaborn Networks’ trans-Oceanic platform for the low latency, high-speed, 72Tbps seamless connection to Latin America.

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