UK data centre firm Virtus opened a £50 million line of credit with Deutsche Bank.
Neil Cresswell, CEO of Virtus told CBR, "It is a facility we can draw down as an when needed. Basically we are simplifying our finance. Brockton Captial is our sole major equity partner and Deutsche Bank is our main debt partner."
The funds will be used to drive expansion of Virtus Data Centres’ business, alongside continued support from Brockton Capital. These additional funds will enable Virtus to accelerate its plans to increase its footprint in the UK as well as satisfy the increase in demand for VIRTUS designed intelligent data centres, the firm said in a statement.
Daryl Seaton, CFO, Virtus Data Centres says: "The additional funding will provide Virtus with a significant platform for accelerated business growth. The debt markets remain challenging, particularly for capital intensive businesses, but this arrangement demonstrates that funding is available for the right companies. This funding represents a significant endorsement of Virtus Data Centres, and combined with the continued support from Brockton Capital, we look forward to expanding our facilities and product portfolio further."
The company’s London II data centre will open later this year.
