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CyrusOne Enhances Company’s Portfolio Geographic and Customer Diversification

Feb. 06, 2017 2:51 PM ETCyrusOne Inc. (CONE) StockBy: Gaurav Batavia, SA News Editor2 Comments
  • CyrusOne (NASDAQ:CONE) entered into a definitive agreement to purchase two enterprise-class data centers located in Raleigh-Durham, North Carolina and Somerset, New Jersey for the total purchase price of $490M, excluding transaction-related expenses, representing a multiple of approx.14.4 times pro forma run-rate annualized EBITDA of approx.$34M.
  • The proceeds from its forward equity sale completed last August 2016 and its recently expanded credit facility will finance the acquisition.
  • The transaction is expected to close in the next 30 to 45 days, subject to the fulfillment of customary closing conditions.
  • The acquisition is expected to be immediately accretive to Normalized FFO per diluted share.

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