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CyrusOne, units sign sales agreements for up to $500M of common stock

CyrusOne Inc. and two of its units entered into separate sales agreements to offer up to $500 million in shares of CyrusOne common stock from time to time.

CyrusOne plans to funnel the net proceeds from the share disposals to its operating partnership in exchange for an equivalent number of the entity's units.

The operating partnership plans to use the proceeds for general business purposes, which may include financing future purchases, investments or capital expenditures related to recently signed leases, and to repay outstanding debt.

The sales agents are Barclays Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs & Co. LLC, Jefferies LLC, KeyBanc Capital Markets Inc., Merrill Lynch Pierce Fenner & Smith Inc., Morgan Stanley & Co. LLC, Raymond James & Associates Inc., RBC Capital Markets LLC, Stifel Nicolaus & Co. Inc. and SunTrust Robinson Humphrey Inc.