July 26, 2006
IXEurope refinances and secures $27.4m (£16.5m) funding
IX Europe Plc (“IXEurope” AIM: IXE), one of Europe's largest and fastest growing datacentre services providers with 14 datacentres in the UK, France, Germany and Switzerland, has renegotiated and increased its banking facilities to �27.4m.
CIT Bank Limited will provide the Group with structured debt of up to �27.4m to finance the construction of IXEurope's recently announced London4 IXDatacentre and the build-out of further datacentre capacity within the current portfolio of sites across Europe.
Karen Bach, Chief Financial Officer, IXEurope said: "IXEurope has consistently achieved strong organic and acquisitive growth in the past six years. Our strategy is to continue to expand and develop our current portfolio and take advantage of appropriate acquisition opportunities in a consolidating market. These additional banking facilities, at a lower interest rate, help support this strategy.”
For further details
Karen Bach, Chief Financial Officer
020 7689 1400
Adrian Duffield/Corinna Dorward
020 7457 2020
IXEurope is one of Europe's fastest growing providers of datacentre services. Its principal activities include primary datacentre services, connectivity services and business continuity solutions.
IXEurope works with enterprise and internet customers to provide resilient datacentre infrastructure to house their IT systems far more cost-effectively than through in-house provision. The benefits include optimised IT performance, improved systems availability and reduced corporate risk through improved regulatory compliance. By continually focusing on quality, IXEurope also gives clients exceptional service levels and on-site access to a high level of technical expertise.
With award winning datacentre facilities in key European cities, broad technology expertise and a proven track record, IXEurope provides solutions that give customers the confidence that their operations are protected. The Company has over 400 customers in the enterprise, internet and networking markets including Merrill Lynch, Google, Network Rail and France Telecom.
Founded in 1998, IXEurope was listed on the London Stock Exchange in April 2006.
For more information please visit the website at www.ixeurope.com
Forward Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, the challenges of acquiring, operating and constructing IBX centers and developing, deploying and delivering Equinix services; unanticipated costs or difficulties relating to the integration of IXEurope into Equinix; a failure to receive significant revenue from customers in recently built out data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; the results of any litigation relating to past stock option grants and practices; and other risks described from time to time in Equinix's filings with the Securities and Exchange Commission. In particular, see Equinix's recent quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
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