PHOENIX, AZ -- (Marketwire) -- 06/13/11 -- Phoenix NAP®, a next generation datacenter and network access point, announced today it has procured a credit facility from Bank of America to fuel the next phase of build-out at the datacenter, and future expansion.
"Bank of America Merrill Lynch is pleased to help Phoenix NAP meet the increased demand from their customers and support the company's impressive growth," said Norm Butler, Bank of America Merrill Lynch Middle Market Banking executive for Arizona, New Mexico and Colorado.
In order to accommodate customer demands and executed contracts, Phoenix NAP will use the funding to add eight more megawatts of capacity, bringing the total generation capacity up to 12 megawatts. Funds will also be used to complete the build-out of the datacenter's first floor, along with continuing the expansion onto the second floor.
"Phoenix NAP delivers the colocation, connectivity, and services that customers expect from a next generation facility. We are pleased to help Phoenix NAP achieve this important milestone and look forward to their continued success," said Jay McCarthy and Scott Chandler of Franklin Court Partners.
Phoenix NAP worked closely with financial advisors from Franklin Court Partners to secure the funding.
"Bank of America and Franklin Court Partners really performed for us, even in challenging circumstances. Their expertise and dedication helped make this deal happen, and we're excited to move forward with our expansion plans following a great first year," said Ian McClarty, president of Phoenix NAP.
After announcing its grand opening last June, Phoenix NAP has seen tremendous interest within the greater business community for its high density colocation space. Among its current tenants are the Make-A-Wish Foundation, Unicorn Media, Net Fusion Services, Slickdeals, Village Voice Media, and many others.
"As we move to keep up with demand, the funding is a big impetus for our continued growth. Furthermore, as the IT climate changes and evolves, we are going to be in a position to help small- , medium- , and enterprise-sized businesses meet their needs, be it through a straight colocation space and power scenario, or a different type of cloud-based solution which we will be releasing in the next few months," said McClarty.
Phoenix NAP is a SAS 70 Type II certified facility and a Payment Card Industry Data Security Standard (PCI DSS) Validated Services provider.
About Phoenix NAP
Phoenix NAP, LLC (www.phoenixnap.com) is a privately held organization of operational, networking and management professionals that have worked in the datacenter and IT fields since the early 1990s. The company employs a unique approach to providing flexible datacenter solutions that are tailored to meet the differing needs of small businesses and large enterprises. For more information, visit the company's website at www.phoenixnap.com.
About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with approximately 5,800 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
About Franklin Court Partners
Franklin Court Partners, LLC (www.franklincourtpartners.com) specializes in providing strategic and financial advisory services to the technology and telecommunications sectors. Our professionals combine deep domain knowledge with extensive advisory experience to deliver effective solutions to our clients.
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