The Company has approximately $113 million in remaining available forward equity (no portion of these forward sale agreements has been settled as of February 16, 2022). CyrusOne Subsidiaries Definition | Law Insider Fitch is also withdrawing the underlying debt ratings of CyrusOne Europe Finance DAC. In the fourth quarter, the Company completed construction on 48,000 CSF and 9 MW of power capacity across Northern Virginia and London. Percentage of The dividend will be paid on April 8, 2022, to stockholders of record at the close of business on March 28, 2022. From January 1, 2020 through December 31, 2021, customer reimbursements under leases with separately metered power constituted between 14.9% and 22.5% of annualized rent. References to KKR's investments may . Revenue includes metered power reimbursements of $70.4 million, $62.5 million, $53.0 million, $73.1 million and $44.9 million for the three months ended December 31, 2021, September 30, 2021, June 30, 2021, March 31, 2021, and December 31, 2020, respectively. As of December 31, 2021, there was approximately $513 million in remaining availability under the ATM equity program. Weighted average based on customers percentage of total annualized rent expiring and is as of December 31, 2021, assuming that customers exercise no renewal options and exercise all early termination rights that require payment of less than 50% of the remaining rents. In his role as Executive Vice President, Managing Director, Europe, Matt is responsible for driving the growth of CyrusOnes operations in Europe and delivering the very best in data center excellence to CyrusOnes hyperscale and enterprise customers worldwide. Represents maximum contracted kW that customers may draw during lease period, and subject to full build out of projects subject to additional conditions. It offers services including cloud solutions, data centers, connectivity . CyrusOne Inc - Subsidiaries of the Registrant - EX-21.1 - Fintel We look forward to leveraging our global experience investing behind digital infrastructure to, together with GIP, support CyrusOnes continued growth, and are excited to get started., Will Brilliant, Partner at GIP, added, Secular growth in data consumption globally has created tremendous opportunity for skilled data center developers and operators to provide critical infrastructure for their customers, including the worlds leading technology companies. CyrusOne Stockholders Approve Acquisition by KKR and Global Other companies may not calculate Adjusted EBITDA in the same manner. Management uses FFO, Normalized FFO, Normalized FFO per Diluted Common Share, Adjusted EBITDA, and NOI, which are non-GAAP financial measures commonly used in the real estate investments trusts (REIT) industry, as supplemental performance measures. Weighted average interest rate calculated using interest rate on swapped amount. Accordingly, the Companys Adjusted EBITDA as presented may not be comparable to others. Acquired Subsidiaries means Subsidiaries of the Failed Bank acquired pursuant to Section 3.1. In addition, any statements that refer to projections of our future financial performance, our anticipated growth and trends in our and our customers respective businesses and industries, and other characterizations of future events or circumstances are forward-looking statements. As Chief Executive Officer, Eric is responsible for leading CyrusOnes strategy and driving the Companys growth including the development of strategic partnerships. Investor Relations Acquisition Subsidiary means (a) any Subsidiary of the Borrower that is formed or acquired after the Closing Date in connection with Permitted Acquisitions, provided that at such time (or promptly thereafter) the Borrower designates such Subsidiary an Acquisition Subsidiary in a written notice to the Administrative Agent, (b) any Restricted Subsidiary on the Closing Date subsequently re-designated as an Acquisition Subsidiary by the Borrower in a written notice to the Administrative Agent, provided that such re-designation shall be deemed to be an investment on the date of such re-designation in an Acquisition Subsidiary in an amount equal to the sum of (i) the net worth of such re-designated Restricted Subsidiary immediately prior to such re-designation (such net worth to be calculated without regard to any Guarantee provided by such re-designated Restricted Subsidiary) and (ii) the aggregate principal amount of any Indebtedness owed by such re-designated Restricted Subsidiary to the Borrower or any other Restricted Subsidiary immediately prior to such re-designation, all calculated, except as set forth in the parenthetical to clause (i), on a consolidated basis in accordance with GAAP, and (c) each Subsidiary of an Acquisition Subsidiary; provided, however, that (i) at the time of any written re-designation by the Borrower to the Administrative Agent of any Acquisition Subsidiary as a Restricted Subsidiary, the Acquisition Subsidiary so re-designated shall no longer constitute an Acquisition Subsidiary, (ii) no Acquisition Subsidiary may be re-designated as a Restricted Subsidiary if a Default or Event of Default would result from such re-designation and (iii) no Restricted Subsidiary may be re-designated as an Acquisition Subsidiary if a Default or Event of Default would result from such re-designation. By using this site, you are agreeing to security monitoring and auditing. Before this appointment, Brent served as CyrusOnes Executive Vice President of Engineering, and Executive Vice President of Strategy. Signed $104.3 Million in Annualized GAAP Revenue and 101 Megawatts in 4Q21. [5][6], In September 2011, the company acquired 55.9 acres in Chandler, Arizona for construction of a data center facility. All data center infrastructure has been constructed by us and is owned by us. Amount outstanding is USD-equivalent of 500 million. "CyrusOne set for more growth after acquisition by Abry Partners", "Cincinnati Bell to acquire CyrusOne in Texas", "CyrusOne forced to take action following noise complaints in Chandler, Arizona", "CyrusOne Inc. Stabilized properties include data halls that have been in service for at least 24 months or are at least 85% leased. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Katherine Motlagh, EVP & Chief Financial Officer, Matt Pullen, EVP & Managing Director, Europe, John Hatem, EVP & Chief Operating Officer, Robert M. Jackson, EVP General Counsel & Secretary, (Dollars in millions, except per share amounts), Funds from Operations ("FFO") - Nareit defined, Normalized Funds from Operations ("Normalized FFO"), Weighted average number of common shares outstanding - diluted for Normalized FFO. Matt has extensive relationships in the corporate community and a unique understanding of the property investment dynamics of data centers. Company Subsidiaries means the Subsidiaries of the Company. We calculate NOI as Net (loss) income, adjusted for Sales and marketing expenses, General and administrative expenses, Depreciation and amortization expenses, Transaction, acquisition, integration and other related expenses, Interest expense, net, Gain on marketable equity investment, Loss on early extinguishment of debt, Impairment losses and loss on asset disposals, Foreign currency and derivative (gains) losses, net, Other (expense) income and Income tax benefit. Factors that could cause or contribute to such differences include, but are not limited to, (i) risks related to the pending Merger, including but not limited to that the Merger may not be completed in a timely manner or at all and the failure to realize the anticipated benefits of the Merger; (ii) risks related to the sale of the Companys four Houston data center assets, including but not limited to that the sale may not be completed in a timely manner or at all and the failure to realize the anticipated benefits of the sale; (iii) the Merger or asset sale diverting managements attention from the Companys ongoing business operations; (iv) the potential widespread and highly uncertain impact of public health outbreaks, epidemics and pandemics, such as the COVID-19 pandemic; (v) loss of key customers; (vi) indemnification and liability provisions as well as service level commitments in our contracts with customers imposing significant costs on us in the event of losses; (vii) economic downturn, natural disaster or oversupply of data centers in the limited geographic areas that we serve; (viii) risks related to the development of our properties including, without limitation, obtaining applicable permits, power and connectivity, and our ability to successfully lease those properties; (ix) weakening in the fundamentals for data center real estate, including but not limited to, increased competition, falling market rents, decreases in or slowed growth of global data, e-commerce and demand for outsourcing of data storage and cloud-based applications; (x) loss of access to key third-party service providers and suppliers; (xi) risks of loss of power or cooling which may interrupt our services to our customers; (xii) inability to identify and complete acquisitions and operate acquired properties; (xiii) our failure to obtain necessary outside financing on favorable terms, or at all; (xiv) restrictions in the instruments governing our indebtedness; (xv) risks related to environmental, social and governance matters; (xvi) unknown or contingent liabilities related to our acquisitions; (xvii) significant competition in our industry; (xviii) recent turnover, or the further loss of, any of our key personnel; (xix) risks associated with real estate assets and the industry; (xx) failure to maintain our status as a REIT (as defined below) or to comply with the highly technical and complex REIT provisions of the Internal Revenue Code of 1986, as amended; (xxi) REIT distribution requirements could adversely affect our ability to execute our business plan; (xxii) insufficient cash available for distribution to stockholders; (xxiii) future offerings of debt may adversely affect the market price of our common stock; (xxiv) increases in market interest rates will increase our borrowing costs and may drive potential investors to seek higher dividend yields and reduce demand for our common stock; (xxv) market price and volume of stock could be volatile; (xxvi) risks related to regulatory changes impacting our customers and demand for colocation space in particular geographies; (xxvii) our international activities, including those conducted as a result of land acquisitions and with respect to leased land and buildings, are subject to special risks different from those faced by us in the United States; (xxviii) expanded and widened price increases in certain selective materials for data center development capital expenditures due to international trade negotiations; (xxix) a failure to comply with anti-corruption laws and regulations; (xxx) legislative or other actions relating to taxes; (xxxi) any significant security breach or cyber-attack on us or our key partners or customers; (xxxii) the ongoing trade conflict between the United States and the Peoples Republic of China; (xxxiii) increased operating costs and capital expenditures at our facilities, including those resulting from higher utilization by our customers, general market conditions and inflation, exceeding revenue growth; and (xxxiv) other factors affecting the real estate and technology industries generally. A customers leased GSF is estimated based on such customers direct CSF or office and light-industrial space plus managements estimate of infrastructure support space, including mechanical, telecommunications and utility rooms, as well as building common areas. Leases signed but not commenced as of December 31, 2021 are not included. Investor Relations Michael Schafer Senior Vice President, Finance 972-350-0060 investorrelations@cyrusone.com Media For CyrusOne Joele Frank, Wilkinson Brimmer Katcher Barrett Golden / Andrew . Reconciliation of Net Income (Loss) to FFO and Normalized FFO: Real estate depreciation and amortization, Normalized Funds from Operations (Normalized FFO), Weighted average diluted common shares outstanding, Amortization of deferred financing costs and bond premium / discount, Non-real estate depreciation and amortization, Deferred revenue, primarily installation revenue(b). Consolidated Entities as of any date of determination, any entities whose financial results are consolidated with those of Kimco in accordance with GAAP. Pre-stabilized properties include data halls that have been in service for less than 24 months and are less than 85% leased. As Executive Vice President, Chief Sales Officer, Brent is responsible for CyrusOnes global go-to-market teams and client relationships. mediainquiries@global-infra.com, Internet Explorer presents a security risk. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. Net (loss) income per diluted common share, We closed out 2021 with the strongest leasing quarter in the history of the company, with demand driven primarily by hyperscale customers across our U.S. markets, and we are well positioned for continued growth with a company-record quarter-end backlog totaling more than $175 million in annualized revenue, said David Ferdman, interim president and chief executive officer of CyrusOne. Operating Subsidiaries means, collectively, the Corporation and HST, each a wholly-owned subsidiary of the Trust, and "Operating Subsidiary" means either of the Corporation or HST, as applicable. Other REITs may not calculate Normalized FFO in the same manner. 6Recurring rent churn percentage is calculated as any reduction in recurring rent due to customer terminations, service reductions or net pricing decreases as a percentage of rent at the beginning of the period, excluding any impact from metered power reimbursements or other usage-based billing. The acquisition was financed through proceeds from the Company's recent common stock and senior notes offerings as well as drawings under its recently amended . means, collectively, CyrusOne and each of its direct and indirect Subsidiaries, including, without limitation, CyrusOne LP. CyrusOne to be Acquired by KKR and Global Infrastructure Partners in Supplemental disclosure of cash flow information: Cash paid for interest, including amounts capitalized of $20.0 million and $22.6 million in 2021 and 2020, respectively. Recent key accomplishments include (i) recruiting a core internal team of established legal professionals to support customer contracting, site selection, construction, M&A and capital markets; (ii) designing and implementing law firm engagement guidelines and reporting requirements to provide transparency and accountability; and (iii) developing a strategic plan for the companys environmental, health and safety program. List of Subsidiaries of the Registrant - SEC.gov DALLAS--(BUSINESS WIRE)--CyrusOne Inc. (NASDAQ: CONE), a premier global data center REIT, today announced fourth quarter and full year 2021 earnings. Material Subsidiaries Subsidiaries of the Parent Borrower constituting, individually or in the aggregate (as if such Subsidiaries constituted a single Subsidiary), a significant subsidiary in accordance with Rule 1-02 under Regulation S-X. Interest rate as of December 31, 2021: 1.31%; weighted average interest rate pursuant to swaps: 1.34%. Wed 02 Jun, 2021 - 4:49 PM ET. CyrusOne's ratings consider the high quality and strong locations of its owned and operated . Canadian Subsidiaries means the Subsidiaries organized under the laws of Canada or any province, territory or other political subdivision thereof. As Executive Vice President, Chief Operating Officer, John is responsible for global operations, design, construction, and information technology. As managing director at Bear Stearns, he was responsible for the strategic design, planning, and control of vital data centers worldwide. Represents the customers total annualized rent divided by the total annualized rent in the portfolio as of December 31, 2021, which was approximately $1,196.3 million. Represents all leases in our portfolio, including colocation, office and other leases. Deferred revenue, primarily installation revenue: Represents payments received from customers in excess of revenue recognized under GAAP. CyrusOne also announced that in connection with the completion of the Transaction, it has notified the Nasdaq Stock Market LLC of its intention to voluntarily delist its 1.450% Senior Notes due 2027 (the Notes), as well as to deregister the Notes from registration with the Securities and Exchange Commission. We are also excited to execute on our capital recycling initiative, further optimizing our portfolio as we redeploy capital into accretive developments across core markets with diverse hyperscale and enterprise demand in the U.S. and Europe.. Notwithstanding the foregoing, the term Partnership Subsidiary shall not in any way be deemed to include the Non-Controlled Subsidiaries or subsidiaries thereof, the Taxable REIT Subsidiaries or subsidiaries thereof, or the Subsidiary REITs or subsidiaries thereof. KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. Net loss was $(7.0) million for the fourth quarter, compared to Net income of $19.0 million in the same period in 2020. DALLAS- (BUSINESS WIRE)-Nov. 15, 2021- CyrusOne Inc. (NASDAQ: CONE) (the "Company" or "CyrusOne"), a premier global data center REIT, KKR, a leading global investment firm, and Global Infrastructure Partners ("GIP"), one of the world's leading infrastructure investors, today announced a definitive agreement pursuant to which KKR and GIP will acq. Stabilized properties include data halls that have been in service for at least 24 months or are at least 85% leased. As a result, we have excluded these Sales and marketing expenses from our NOI calculation, consistent with the treatment of General and administrative expenses, which also support our entire portfolio. It offers data center real estate assets that provide the operation of information technology infrastructure. Before joining CyrusOne, Brent served as Senior Vice President of sales for Compass Datacenters. Your request has been identified as part of a network of automated tools outside of the acceptable policy and will be managed until action is taken to declare your traffic.
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