Bloomberg Law
March 16, 2023, 3:36 PM

Cyxtera Extends Debt Maturity, May Have to Consider Bankruptcy

Jeremy Hill
Jeremy Hill
Bloomberg News

Data center firm Cyxtera Technologies Inc. pushed out the maturity on a $120 million revolving credit line from November to April 2024, but may have to consider filing for bankruptcy if it can’t refinance or otherwise repay the debt, according to a regulatory filing.

  • Cyxtera struck deal to extend the maturity on March 14, according to its annual report
  • Agreement includes roughly $18 million reduction in borrowing capacity and an increased interest rate
  • If company can’t further extend, refinance or repay its debt in some other way, Cyxtera “could be forced to consider all strategic alternatives” including restructuring its obligations, ...