Wednesday, May 23, 2007

Rackspace Gets $45M Credit Line

San Antonio, Texas-based Rackspace, a provider of managed Internet hosting services, said Wednesday that it received $45M in a credit facility plus a $25M term loan from Comerica and JPMorgan Chase. The firm said that the term loan would be used for new hardware agreements and data center build outs, while the credit facility may be used for temporary financing arrangements.