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Cervalis Raises USD 48 Million Loan

Investment banking firm DH Capital has closed USD 48 million in senior credit facilities for IT services provider Cervalis from a group of commercial lending institutions. This follows on from a deal in April 2007 when DH Capital acted as financial advisor in closing USD 20 million in senior credit facilities for the firm. Cervalis will use the loan to finance the construction of a new data centre and business continuity facility in northern New Jersey, as well as to refinance existing debt. Cervalis has data centres across the tri-state area which total more than 140,000 square feet of space, including high-end facilities in New York, Connecticut and northern New Jersey.

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