IO Lines Up $505 Million for Data Center Growth

Originally posted on Data Center Frontier by Rich Miller

A row of data center modules inside the huge IO New Jersey data center in Edison, N.J. (Photo:IO)

Data center service provider IO has raised $445 million in debt capital from Deutsche Bank, and $60 million in additional growth capital from an affiliate of Macquarie Capital, the company said today. The financing is the latest sign of strong interest in the data center industry by lenders and investors.

IO will use the proceeds from the Deutsche Bank loan to refinance debt, and to exercise options to acquire the land and buildings underlying its IO.New Jersey and IO.Ohio data centers. The company will use the Macquarie Capital funding to further its international and domestic growth and for general corporate purposes.

“This capital raise reflects the robust momentum in the worldwide data center market – the physical layer of the Internet,” said George Slessman, chief executive officer of IO. “We will use this capital to continue our disruption of the data center industry; bringing web scale data center capability to any scale business.”

To read the full article, view it on the Data Center Frontier website here.