TierPoint, a national enterprise data center company and a provider of secure connected IT platform solutions, announced its parent company has closed a $250 million term loan — a portion of which is a delayed draw term loan.
Upsized due to strong investor interest, the loan facility complements TierPoint’s asset-backed securitization (ABS) and variable funding notes (VFN) program. TierPoint confirmed net proceeds will be used to fund a portion of data center expansions and other growth-related capital expenditures, buy out leases at selected data centers, refresh capital drawn under the VFN, and redeem in full the Series B preferred equity.
TierPoint’s majority shareholder is Argo Infrastructure Partners, a mid-market asset manager targeting essential infrastructure assets in North America. In April, Argo announced a recap of a series of recent strategic financings across its portfolio of 18 high-quality infrastructure companies and projects, including TierPoint
