International law firm Reed Smith has advised existing client Telecity Group plc in connection with £100m of additional debt facilities.  The additional facilities have been made available by its existing bank group comprising Barclays, Lloyds, HSBC and RBS (advised by DLA Piper UK LLP), and take its overall debt facilities to £300m with the full amount being refreshed for a further five year term.

TelecityGroup is Europe's industry leading provider of premium network independent data centres and plans to use the new funding to support the expansion of its footprint in Europe both through organic demand-driven growth and bolt-on acquisitions.

Phillip Slater, partner and head of Reed Smith's transaction finance team in London, led the multijurisdictional team which comprised practitioners in the firm's Financial Industry Group drawn from the London, Paris and Munich offices.

He was supported by Lucy Newcomb (partner), Chris Akinrele (associate), Lucy Bleach (trainee associate) and Nathan Menon (trainee associate) in London, Stefan Kugler (partner) and Rene Lochmann (associate) in Germany and Anker Sorensen (partner) and Gregory Camus (associate) in France.
Commenting on the transaction, Phillip said:
"It has been fantastic to work on this facility extension for Telecity Group.  This represents another great result for the company as it pursues its strategy of expansion and growth."

ENDS

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