NextDC upsizes debt facility to fund data centre expansion amid ‘unprecedented’ demand
NextDC is further bolstering its finances as it continues to expand amid ‘unprecedented” data centre demand.
NextDC is further bolstering its financial firepower as it continues to expand amid “unprecedented” data centre demand.
The NSW-based company told the market on Friday it had inked documents for new senior debt facilities totalling $2.3 billion, up $500 million on the $1.8b worth of commitments announced in May.
“The upsize reflects continued strong support from a broad syndicate of domestic and international banks, following the company’s recent record increase in contracted utilisation,” it said.
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By continuing you agree to our Terms and Privacy Policy.In April, NextDC reported a 60 per cent surge in contracted utilisation during the March quarter, describing it as a “transformational” and “unprecedented” increase, while announcing a $1.5b capital raising along with other tin-rattling to fund its aggressive growth plans.
The latest move increases the company’s total available senior debt facilities from $6.4b to $8.7b.
“Proceeds from the new facilities will primarily support capital expenditure requirements associated with recent customer contract wins, ongoing data centre developments as well as for general corporate purposes,” NextDC said on Friday.
