Data Center Operator DuPont Fabros Selling Preferred Shares
(WEB HOST INDUSTRY REVIEW) — Data center developer DuPont Fabros Technology announced on Thursday it will sell additional shares of its Series B Cumulative Redeemable Perpetual Preferred Stock.
Though DuPont Fabros did not specify the amount it expects to raise with the stock sale, it did say it would use the funds to repay money it has borrowed under its $100 million revolving credit loan.
The company will also use a portion of the funds for “general corporate purposes.”
Along with Digital Realty Trust and CoreSite Realty, DuPont Fabros is one of the largest publicly-held real estate investment trusts that primarily focuses on the data center sector.
The offering comes on the heels of a busy 2011 where the company leased 125,716 square feet of data center space and 23.6 MW of critical load in the first nine months.
This included the opening of DuPont Fabros’ ACC6 Phase I data center in Ashburn, Virginia and its SC1 Phase I data center in Santa Clara, California.
