Deutsche Bank launched syndication last week on a $110 million facility for Switch and Data. The loan will be used to refinance bank debt and fund the acquisition of MeridianTelesis.
The facility comprises an $80 million institutional piece and $30 million pro rata. Deutsche Bank was the lead on Switch and Data's previous $45 million "A" loan. George Pollock, the company's senior v.p. and cfo, said the company was approached by other banks and agent roles will be announced as the deal progresses. Pollock declined comment on pricing.
"We're working to grow the business through organic means," Pollock said. "We're also looking to take advantage of the marketplace." Switch and Data provides services including space, power and cross connections between customers to ISPs.