Teraco, Absa in R200m funding deal - TechCentral

Teraco, Absa in R200m funding deal

Lex van Wyk

Lex van Wyk

Vendor-neutral data centre operator Teraco Data Environments has secured a R200m medium-term funding facility from Absa’s corporate and investment banking division.

Teraco CEO Lex van Wyk says the funding will allow Teraco to meet the demand created by growth of the Internet and cloud computing in the region.

In recent years, Teraco has expanded its footprint to three data centres in Cape Town, Durban and Johannesburg, which combined comprise 6,6MW of power plant, powering 4,000sq m of operating data centre space. Teraco is also home to Internet peering exchange NAPAfrica.

Teraco finance chief Jan Hnizdo says the Absa facility will allow for continued expansion of available space in Teraco’s data centres and there are plans to expand the Cape Town and Johannesburg data centres by a further combined 4MW of power and 3 000sq m of operating data centre space.

The facility allows Teraco to refinance its existing debt facilities, together with a flexible draw facility, to fund future infrastructure investments.  — (c) 2013 NewsCentral Media

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