QTS Increases Unsecured Credit Facility to $650 Million, Extends Maturity Date and Reduces Interest Rate

OVERLAND PARK, Kan., Dec. 22, 2014 /PRNewswire/ -- QTS Realty Trust QTS, one of the nation's largest and fastest-growing providers of data center facilities and cloud services, and a leader in security and compliance, today announced its unsecured credit facility has been increased to $650 million, up from $560 million. In addition, the unsecured credit facility maturity date was extended through December 17, 2019 in relation to the $100 million term loan portion and December 17, 2018 in relation to the $550 million revolving credit portion of the facility.  The $550 million revolving credit facility also has a one-year extension option to December 17, 2019.

The current interest rate on the credit facility was also reduced to LIBOR plus 1.65% on the $100 million term loan portion and to LIBOR plus 1.7% on the $550 million revolving credit facility portion.  This compares to the previous rate of LIBOR plus 2.1% on both the term loan and revolving credit loan.  In the future, the interest rate spread under the credit facility will vary depending upon the company's leverage ratio.  The credit facility also has an accordion feature that gives QTS the ability to increase the credit facility by up $200 million upon obtaining additional commitments.

QTS engaged KeyBank National Association to serve as administrative agent and KeyBanc Capital Markets, Inc. KEY to serve as sole lead arranger for the amendment and extension.  Bank of America, N.A. BAC, Deutsche Bank Securities, Inc. DB and Regions Bank RF acted as co-syndication agents for the credit facility.  Seventeen financial institutions make up the syndicate for the credit facility.

"QTS appreciates the continued confidence and trust of our lending partners," said Bill Schafer, Chief Financial Officer - QTS.  "The increased credit facility capacity, extended term and lower interest rates enhance the company's financial flexibility and liquidity as we continue to expand our facilities in Atlanta, Dallas, New Jersey, Richmond, Santa Clara and Sacramento and commence development of our recently acquired facility in Chicago."

QTS specializes in acquiring, developing and managing scalable mega data centers in strategic markets.  The company's nationwide distribution maximizes the use of space, power and QTS expertise to support customer growth and overall market demand.

About QTS      

QTS Realty Trust, Inc. QTS is a leading national provider of data center solutions and fully managed services and a leader in security and compliance. The company offers a comprehensive portfolio of core data center products, including custom data center, colocation and cloud and managed services, providing the flexibility, scale and security needed to support the rapidly evolving hybrid infrastructure demands of web and IT applications. With 12 data centers in eight states, QTS owns, operates and manages approximately 4.7 million square feet of secure, state-of-the-art data center infrastructure and supports more than 850 customers. QTS' Critical Facility Management (CFM) services can provide increased efficiency and greater performance for third-party data center owners and operators. For more information about QTS, please visit www.qtsdatacenters.com, call toll-free 877.QTS.DATA or follow us on Twitter @DataCenters_QTS.

Media Contact:
Marlena Reed, communications 21 for QTS
404.814.1330
mreed@c21pr.com

Investor Relations Contact:
Jeff Berson, Chief Investment Officer
QTS
ir@qtsdatacenters.com

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SOURCE QTS Realty Trust, Inc.