CyrusOne Inc. Announces Public Offering of Common Stock, 11.3M Shares

CyrusOne Inc.

("CyrusOne") announced today that it has commenced the public offering of 11,300,000 shares of its common stock. All of the shares of common stock are being offered by CyrusOne. The underwriters will be granted an option to purchase up to 1,695,000 additional shares of common stock from CyrusOne at the public offering price, less underwriting discounts. Citigroup, Goldman, Sachs & Co., Morgan Stanley, KeyBanc Capital Markets, Barclays, J.P. Morgan, Deutsche Bank Securities, RBC Capital Markets, TD Securities and Jefferies are acting as joint-bookrunners for the offering. Stifel, SunTrust Robinson Humphrey and Raymond James are acting as co-managers for the offering. CyrusOne expects to contribute, directly and indirectly, a portion of the net proceeds from the offering to its operating partnership, CyrusOne LP (the "Operating Partnership"), in exchange for 7,000,000 newly-issued common units of limited partnership interests in the Operating Partnership ("OP Units"). The Operating Partnership is expected to use such proceeds to finance, in part, its previously announced acquisition of Cervalis Holdings LLC (the "Cervalis Acquisition"), to pay fees and expenses related to the Cervalis Acquisition and for general corporate purposes. In the event the Operating Partnership does not consummate the Cervalis Acquisition, it is expected to use such proceeds to repay outstanding indebtedness under its revolving credit facility and for general corporate purposes. In addition, CyrusOne expects to use the remaining portion of the net proceeds from the offering to acquire 4,300,000 OP Units (or 5,995,000 OP Units if the underwriters exercise their option to purchase additional shares of CyrusOne's common stock in full) from a subsidiary of Cincinnati Bell Inc. ("Cincinnati Bell"). Upon completion of this offering, Cincinnati Bell expects to effectively own approximately 13.7% (or approximately 11.3% if the underwriters exercise their option to purchase additional shares of CyrusOne's common stock in full) of CyrusOne through its interests in the outstanding shares of common stock of CyrusOne and its interests in OP Units, which are exchangeable into shares of common stock of CyrusOne on a one-for-one basis. The shares are being offered pursuant to two shelf registration statements that have been declared effective by the Securities and Exchange Commission ("SEC"). The offering will be made only by means of the prospectus supplement and accompanying prospectuses. The preliminary prospectus supplement and accompanying prospectuses related to the offering has been filed with the SEC and is available on the SEC's website at http://www.sec.gov. A copy of the preliminary prospectus supplement and accompanying prospectuses related to the offering may be obtained by contacting Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by calling (800) 831-9146; Goldman, Sachs & Co., 200 West Street, New York, New York 10282, Attention: Prospectus Department, by calling (866) 471-2526 or by emailing prospectus-ny@ny.email.gs.com; Morgan Stanley, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department; KeyBanc Capital Markets, 127 Public Square, 4th Floor, Cleveland, Ohio 44114, Attention: Prospectus Delivery Department, or by calling (800) 859-1783; Barclays, c/o Broadridge Financial Solutions, 1155, Long Island Avenue, Edgewood, New York 11717, by calling (888) 603-5847 or by emailing Barclaysprospectus@broadridge.com; J.P. Morgan, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus Department, by calling (866) 803-9204 or by emailing prospectus-eq_fi@jpmchase.com; Deutsche Bank Securities, 60 Wall Street, New York, New York 10005-2836, Attention: Prospectus Group, by calling (800) 503-4611 or by emailing prospectus.cpdg@db.com; RBC Capital Markets, 200 Vesey Street, 8th Floor, New York, New York 10281-8098; Attention: Equity Syndicate, by calling (877) 822-4089 or by emailing equityprospectus@rbccm.com ;TD Securities, by calling (289) 360-2302 or by emailing sdcconfirms@td.com; or Jefferies, 520 Madison Avenue, 2nd Floor, New York, New York 10022, Attention: Prospectus Department, by calling (877) 547-6340 or by emailing Prospectus_Department@Jefferies.com. This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.