WINTER GARDEN, FL—iStorage has secured a$50-million credit facility to recapitalize its debt. The newcredit facility for the locally-based firm was announced byThe BSC Group, which assisted in the financingdeal provided by an unnamed national bank.

The new credit facility provides iStorage with additionalcapital to be used for general working capital purposes, as well asthe future expansion of the business. The three-year loan wasfunded by a national bank and featured a variable rate of 2.25%over LIBOR with no amortization requirements and open prepayment,officials with Chicago-based BSC Group state.

“The combination of low interest rates and tremendous liquidityin the debt market make it an optimal time to help our clients findways to lower their cost of funds,” says ShawnHill, a BSC Group Principal. “A revolving facility alsostreamlines the borrowing process by creating greater flexibilityand speed of execution.”