NextDC adds $500m to debt facility to fund data centre developments

The news: NextDC has upsized its senior debt facilities to $2.3 billion, representing a $500 million increase from the $1.8 billion announced in May.

The context: The data centre provider stated that the capital injection will be used to fund capital expenditures for recent customer contract wins, ongoing data centre developments, and general corporate purposes.

The upsized facility reflects ongoing support from a broad syndicate of domestic and international banks and builds on its previous capital raising initiatives, which included a $1.5 billion entitlement offer, a $1.7 billion hybrid securities offer, and a $750 million wholesale note offer.

Upon the financial close of the expanded facilities, NextDC’s total available senior debt pool will increase from $6.4 billion to $8.7 billion.