Back on the 11th September I put together an article for The Hot Aisle about how Data Center Hosting Company – IntereXion had managed to convince the banking sector that expanding their credit facility was sensible.
I reported that - The credit facility was arranged by Fortis Bank (Nederland) B.V., Coöperatieve Rabobank Regio Schiphol U.A. and ING Bank N.V., with Fortis Bank (Nederland) B.V. acting as agent.
I wonder what has happened since Fortis was nationalized by the Dutch Government a mere 18 days later?
Comment by DavidMorgan on 8 October 2008:
As far as I know InterXion do not have a facility in Portugal , does anybody know of a carrier neutral data centre in Portugal ?
Comment by Sune Christesen on 8 October 2008:
David:
It's correct that Interxion haven't got any there, here's a map of some others in Portugal:
http://www.datacentermap.com/datacenters/countr...
Carrierhouse Lisbon is the primary location in Portugal as far as I know.
Comment by Alan Crean on 15 October 2008:
I would imagine that they are in a good position as the contracts were well tended to and the funding lines were secured by contract. As InterXion have made no negative noises hey seem fine – the banks are liquid currently according to the S&P view, so all should be fine.
This is not actually all based on any insight on Interxion, but as a business in a versimilar position to them, the banks are delighted to have performing businesses on their books…………….especially as no one else is trying to borrow any money.
I have a start up – its 2 years old this Christmas – it has only just moved to being profitable – it is cash hungry – and the bank love me today, and have lots of time to spend with me, all because everything else just stalled over the Summer.
I used to tell people I had a Business Process Software Company, and did OK – now I tell them we make software for the 3 R's (Regulation, Risk, Recession) and we have wind in our sails.
Its a reseccion – get into a little debt and its your problem – start a business and get into a load of debt and you become their problem – and problems get attention
Comment by thehotaisle on 15 October 2008:
Hi Alan,
Sometimes no news is good news, however in the current financial crisis most folks are keeping a low profile and either canceling investment plans or delaying them because they can't raise the funding. The wholesale market has completely collapsed. The point I was making in the article is that Fortis don't exist anymore so I guess that unless InterXion drew down the funds before Fortis disappeared, the revolving facility is short of a few quid…
Steve
Comment by thehotaisle on 15 October 2008:
Hi Alan,
Sometimes no news is good news, however in the current financial crisis most folks are keeping a low profile and either canceling investment plans or delaying them because they can't raise the funding. The wholesale market has completely collapsed. The point I was making in the article is that Fortis don't exist anymore so I guess that unless InterXion drew down the funds before Fortis disappeared, the revolving facility is short of a few quid…
Steve