Latest news with #TierPoint
Business Wire
14-07-2025
- Business
- Business Wire
TierPoint Parent Closes Upsized $250 Million Term Loan
ST. LOUIS--(BUSINESS WIRE)--The parent company of TierPoint – a leading, national enterprise data center company and provider of secure, connected IT platform solutions – today announced the closing of a $250 million term loan, a portion of which is a delayed draw term loan. Upsized due to strong investor interest, this facility complements TierPoint's asset-backed securitization (ABS) and variable funding notes (VFN) program. Net proceeds will be used to fund a portion of data center expansions and other growth-related capital expenditures; buy out leases at selected data centers; refresh capital drawn under the VFN; and redeem in full the Series B preferred equity. 'Our ability to continue successfully accessing the capital markets is a testament to the work of our world-class employees and the sustained growth that our company is delivering,' said TierPoint President and CFO Mary Meduski. 'That growth is fueled by robust market demand for our IT infrastructure solutions, including our market-leading colocation services for both enterprise and artificial intelligence workloads. This term loan positions us to continue capitalizing on that demand and serving our customers with excellence.' 'There is a clear market signal in the sustained improvement in financing terms and pricing that the company has attracted over time, now coupled with a flexible and sophisticated capital construct that sets TierPoint on a path to consolidate its unique advantages,' said Jason Zibarras, TierPoint Board Director and Managing Partner of Argo Infrastructure Partners, TierPoint's majority shareholder. Brice Soucy, Argo Director at TierPoint, added, 'This partnership with Apterra and our ability to attract a new group of lenders is key to supporting the next stage of TierPoint's growth during this period of accelerating market demand for TierPoint's infrastructure and capabilities.' Apterra Co-CEOs Michael Pantelogianis and Ralph Cho said, 'We are pleased to have led this term loan. The impressive investor demand reflects TierPoint's strong credit profile and robust business model.' Apterra Infrastructure Capital acted as lead arranger, sole bookrunner, and administrative agent for the transaction. CSC Delaware Trust Company is the collateral agent and depositary bank. Bank Street Group LLC and Seyfarth Shaw LLP served as advisor and counsel, respectively, to TierPoint's parent company. Milbank LLP served as counsel to Apterra. Perkins Coie served as counsel to CSC Delaware Trust. About TierPoint TierPoint ( has one of the largest and most geographically diversified U.S. enterprise data center footprints, with dozens of world-class, cloud-ready data centers in 20 markets, connected by a coast-to-coast fiber network. TierPoint provides secure, connected IT platform solutions that power the digital transformation of thousands of clients, from the public to private sectors, from small businesses to Fortune 500 enterprises. Taking an agnostic approach to helping clients achieve their most pressing business objectives, TierPoint is a champion for untangling the complexity of hybrid, multi-platform approaches to IT infrastructure, drawing on a comprehensive portfolio of services, from public to multitenant and private cloud, from colocation to disaster recovery, security, and more. About Argo Infrastructure Partners Argo Infrastructure Partners LP, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. Argo invests in high-quality infrastructure businesses and assets that provide essential services to their communities over their long operational lives, including investments in utilities, renewable energy, digital infrastructure, transportation assets and other long-duration infrastructure assets. Argo's investment philosophy couples sound investment return with responsible and sustainable investing. As of June 2025, Argo manages over $6.4 billion in assets on behalf of its investor partners. For more information, visit
Yahoo
14-07-2025
- Business
- Yahoo
TierPoint Parent Closes Upsized $250 Million Term Loan
ST. LOUIS, July 14, 2025 (GLOBE NEWSWIRE) -- The parent company of TierPoint – a leading, national enterprise data center company and provider of secure, connected IT platform solutions – today announced the closing of a $250 million term loan, a portion of which is a delayed draw term loan. Upsized due to strong investor interest, this facility complements TierPoint's asset-backed securitization (ABS) and variable funding notes (VFN) program. Net proceeds will be used to fund a portion of data center expansions and other growth-related capital expenditures; buy out leases at selected data centers; refresh capital drawn under the VFN; and redeem in full the Series B preferred equity. 'Our ability to continue successfully accessing the capital markets is a testament to the work of our world-class employees and the sustained growth that our company is delivering,' said TierPoint President and CFO Mary Meduski. 'That growth is fueled by robust market demand for our IT infrastructure solutions, including our market-leading colocation services for both enterprise and artificial intelligence workloads. This term loan positions us to continue capitalizing on that demand and serving our customers with excellence.' 'There is a clear market signal in the sustained improvement in financing terms and pricing that the company has attracted over time, now coupled with a flexible and sophisticated capital construct that sets TierPoint on a path to consolidate its unique advantages,' said Jason Zibarras, TierPoint Board Director and Managing Partner of Argo Infrastructure Partners, TierPoint's majority shareholder. Brice Soucy, Argo Director at TierPoint, added, 'This partnership with Apterra and our ability to attract a new group of lenders is key to supporting the next stage of TierPoint's growth during this period of accelerating market demand for TierPoint's infrastructure and capabilities.' Apterra Co-CEOs Michael Pantelogianis and Ralph Cho said, 'We are pleased to have led this term loan. The impressive investor demand reflects TierPoint's strong credit profile and robust business model.' Apterra Infrastructure Capital acted as lead arranger, sole bookrunner, and administrative agent for the transaction. CSC Delaware Trust Company is the collateral agent and depositary bank. Bank Street Group LLC and Seyfarth Shaw LLP served as advisor and counsel, respectively, to TierPoint's parent company. Milbank LLP served as counsel to Apterra. Perkins Coie served as counsel to CSC Delaware Trust. About TierPoint TierPoint ( has one of the largest and most geographically diversified U.S. enterprise data center footprints, with dozens of world-class, cloud-ready data centers in 20 markets, connected by a coast-to-coast fiber network. TierPoint provides secure, connected IT platform solutions that power the digital transformation of thousands of clients, from the public to private sectors, from small businesses to Fortune 500 enterprises. Taking an agnostic approach to helping clients achieve their most pressing business objectives, TierPoint is a champion for untangling the complexity of hybrid, multi-platform approaches to IT infrastructure, drawing on a comprehensive portfolio of services, from public to multitenant and private cloud, from colocation to disaster recovery, security, and more. About Argo Infrastructure Partners Argo Infrastructure Partners LP, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. Argo invests in high-quality infrastructure businesses and assets that provide essential services to their communities over their long operational lives, including investments in utilities, renewable energy, digital infrastructure, transportation assets and other long-duration infrastructure assets. Argo's investment philosophy couples sound investment return with responsible and sustainable investing. As of June 2025, Argo manages over $6.4 billion in assets on behalf of its investor partners. For more information, visit Media ContactsPete Abel, 314-720-3129, (for TierPoint)Ira Gorsky, (for Argo Infrastructure Partners)Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-06-2025
- Business
- Yahoo
PSTG, TierPoint Unveil Imaging Storage-as-a-Service for Healthcare
Pure Storage, Inc.'s PSTG all-flash technology was leveraged by TierPoint to launch a cutting-edge Imaging Storage-as-a-Service solution designed specifically for the healthcare sector. The offering is designed to tackle the growing challenges associated with medical imaging data, ranging from rising storage costs and performance limitations to stringent security requirements. This innovative solution integrates Pure Storage's high-performance infrastructure with TierPoint's HIPAA-compliant, secure data centers and award-winning managed services. The result is a scalable, cloud-enabled storage service that not only supports AI-driven imaging workloads but also enables long-term data retention. The per-study billing model provides healthcare organizations with greater cost predictability while significantly accelerating image retrieval and strengthening data protection for mission-critical assets. Pure Storage, Inc. price-consensus-chart | Pure Storage, Inc. Quote Pure Storage highlighted that with this new service, they are enabling healthcare providers to align storage costs directly with patient care delivery models. The goal is to give providers the performance, flexibility and resilience they need to scale operations efficiently while focusing on what matters most—improving patient outcomes. Pure Storage and TierPoint are jointly tackling a major challenge in healthcare IT by delivering a modern storage infrastructure that enhances diagnostic capabilities, boosts operational efficiency and supports improved patient outcomes. Pure Storage continues to reshape the future of enterprise storage with innovations tailored for modern data workloads—particularly AI, containerization and high-performance computing. The release of Portworx Enterprise 3.3 during the fiscal fourth quarter of 2025 expands its leadership in Kubernetes-native storage and data management. The update includes support for VM workloads, enabling enterprises to manage both containers and virtual machines in a unified and scalable environment, addressing hybrid deployment scenarios common in modern IT. The rollout of FlashBlade//EXA and steady adoption of the //E family, supporting AI and HPC workloads, augur well. Storage-as-a-Service TCV sales jumped 70% in the fiscal first quarter, fueled by large and small Evergreen//One deals. Additionally, Pure Storage and Nutanix teamed up to offer a joint solution for managing virtual workloads on a modern infrastructure stack. This integrated offering simplifies deployment and enhances operational efficiency, which is ideal for IT teams scaling up virtual environments in hybrid clouds. It has further deepened its collaboration with NVIDIA, integrating NVIDIA AI Data Platform reference designs into its FlashBlade lineup. This move solidifies Pure Storage's role in supporting AI infrastructure needs. With cyber threats rising, the firm expanded its partnership with Rubrik to offer enhanced protection for unstructured data. This solution improves threat detection, data management and recovery capabilities that are critical in today's ransomware-prone environment. Pure Storage currently carries a Zacks Rank #3 (Hold). Shares of the company have lost 15.4% in the past year compared with the Computer- Storage Devices industry's decline of 32.4%. You can see the complete list of today's Zacks #1 Rank stocks here. Image Source: Zacks Investment Research Some better-ranked stocks from the broader technology space are Western Digital Corporation WDC, Teradata Corporation TDC and PTC Inc. PTC. WDC sports a Zacks Rank #1 (Strong Buy) while TDC and PTC carry a Zacks Rank #2 (Buy). Western Digital's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 7.3%. In the last reported quarter, WDC delivered an earnings surprise of 11.48%. Its shares have decreased 21.5% in the past year. Teradata's earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 24.63%. In the last reported quarter, TDC delivered an earnings surprise of 15.79%. Its shares have declined 37.4% in the past year. PTC's earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while in line in one, with the average surprise being 14.57%. In the last reported quarter, PTC delivered an earnings surprise of 29.71%. The company's long-term earnings growth rate is 15.5%. Its shares have decreased 6% in the past year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Western Digital Corporation (WDC) : Free Stock Analysis Report Teradata Corporation (TDC) : Free Stock Analysis Report PTC Inc. (PTC) : Free Stock Analysis Report Pure Storage, Inc. (PSTG) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mirror
19-06-2025
- Business
- Daily Mirror
Major American Express update impacting British Airways customers
It was announced yesterday that only British Airways Premium Plus American Express cardholders — not those using the free British Airways American Express card — can now earn up to 2,500 tier points per year when using their card for everyday spending A major update on British Airways' tier points scheme has been announced. Following the airline's recent overhaul of its loyalty scheme, British Airways and American Express customers have been eager to find out how many tier points they can now earn with the British Airways Premium Plus Amex card. It was announced yesterday that only British Airways Premium Plus American Express cardholders — not those using the free British Airways American Express card — can now earn up to 2,500 tier points per year when using their card for everyday spending. The number of tier points you earn annually determines your membership level: blue, bronze, silver, or gold. Everyone starts at bronze, and can progress through the tiers based on how much they spend. Higher-tier statuses unlock perks such as complimentary seat selection, priority check-in, additional baggage allowance, and access to British Airways' airport lounges. Here's how many Tier Points are required for each level: Bronze – 3,500 Tier Points Silver – 7,500 Tier Points Gold – 20,000 Tier Points To reach silver, you could spend £5,000 on British Airways flights and holiday packages — each pound spent earns one tier point. The rest of the required points could be earned through spending on the British Airways Premium Plus Amex card, if you have one. Here's how the new tier point earning system works for cardholders: 750 tier P=points are awarded when you spend £15,000 after enrolling in the offer. An additional 750 tier points are awarded after spending a further £5,000 (total: £20,000). A final 1,000 tier points are awarded after spending another £5,000 (total: £25,000). This brings the maximum total to 2,500 tier points earned via everyday spending. If this sounds confusing, there's more: the tier points system is separate from Avios points. Tier points determine your membership level and associated airport perks. Avios points, on the other hand, are used to claim rewards such as free flights. Travellers flying with British Airways or its Oneworld partners earn Avios to use toward future flights. Amex cardholders have long earned Avios on their spending. However, prior to the changes in April, cardholders could not earn tier points through everyday spending. Here's how Avios earning works: The free British Airways American Express card earns 1 Avios per £1 spent. The Premium Plus card earns 1.5 Avios per £1 spent, but has a £300 annual fee. It's important to note that the 2,500 tier point offer is not available to holders of the fee-free British Airways Amex Card. If you do have the British Airways Premium Plus American Express card, make sure to enroll in the Tier Point scheme through the American Express app or website to begin collecting points.
Yahoo
30-04-2025
- Business
- Yahoo
Argo Infrastructure Partners Strengthens Portfolio Companies with ~US$2 Billion in Multiple Strategic Financing Transactions
NEW YORK & LONDON, April 30, 2025--(BUSINESS WIRE)--Argo Infrastructure Partners ("Argo"), founded by Jason Zibarras, is a leading mid-market asset manager targeting essential infrastructure assets in North America, today announced a recap of a series of strategic financings across its portfolio. Across its entire portfolio of 18 high-quality infrastructure companies and projects, Argo seeks to secure appropriate financing through its extensive institutional relationships to improve liquidity, lower cost of capital and further strengthen portfolio company balance sheets to support investment and growth initiatives. Over the last 12 months Argo has demonstrated its ability to support its portfolio companies by raising debt financing across a broad range of markets, structures and asset classes at favorable rates and terms. Through these transactions, Argo has facilitated, arranged and supported approx. US $2 billion in aggregate financing for its portfolio companies, which include regulated utilities, renewable power assets, and digital infrastructure. Argo also guided its companies through their inaugural credit ratings process and obtained investment grade ratings for their long term debt issuance. The financing structures included bridge loans, asset-backed securities (ABS) and long-term notes. "We view prudent debt capital and restructuring as a key lever in unlocking long-term value. By securing capital structures and sources aligned with each portfolio company's operating profile, it improves financial flexibility," said Jason Zibarras, founder of Argo Infrastructure Partners. "Our platform-wide financing efforts have reduced volatility and enabled our portfolio companies to unlock and pursue organic and step growth opportunities." "Argo's ability to source and structure bespoke financing solutions is a powerful differentiator for our portfolio companies," said Andrew Zaroulis, Managing Director at Argo. "By leveraging our deep lender relationships, capital markets and infrastructure expertise, we're able to unlock access to lower cost capital that wouldn't otherwise be available." Select Argo Portfolio Company Financings Q2 24 - $550m - TierPoint - First "tap" issuance on TierPoint's ABS financing Q3 24 - $120m - Corning Energy - Refinanced the company's legacy amortizing bank debt into non-amortizing fixed rate notes (eliminating interest rate volatility for the company and, ultimately, its ratepayers), plus a sizeable revolving credit facility (providing liquidity for necessary capital investments in the regulated utility asset base) Q3 24 - ~$250m – Hawaii Gas – Full company refinancing through a hybrid bank and bond structure. Argo guided the company through its inaugural credit rating process and obtained investment grade credit ratings for the utility company's long-term notes issuance. Q4 24 - ~$300m - Smoky Mountain Hydro In partnership with Brookfield (50/50 co-shareholder), the portfolio completed an up-size debt financing supported by an extended 10-year off-take agreement with regional utility Tennessee Valley Authority, which was signed in 2024. Q2 25 - $500m - TierPoint - Incremental ABS issuance by TierPoint at advantageous pricing to provide additional liquidity for the company's growth initiatives. Q2 25 - >$200m - LAZ Parking - Refinancing to support the company's active add-on acquisition strategy. Including recently announced FleetLogix - Argo Infrastructure Partners Argo Infrastructure Partners LP, founded by Jason Zibarras, is an independent fund manager with a long-term approach to infrastructure investing. Argo invests in high-quality infrastructure businesses and assets that provide essential services to their communities over their long operational lives, including investments in utilities, renewable energy, digital infrastructure, and other long duration infrastructure assets. Argo's investment philosophy couples sound investment return with responsible and sustainable investing. As of December 2024, Argo manages over $6 billion in assets on behalf of its investor partners. For more information, visit View source version on Contacts Media Ira GorskyEdelman Sign in to access your portfolio
