NextDC completes extra $750m debt raise
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The news: NextDC has priced and allocated $750 million in wholesale subordinated notes, pushing the data centre builder’s pro forma liquidity at 30 June 2026 to $6.6 billion.
The numbers: The wholesale notes offer consists of a single tranche of $750 million of floating rate notes that have a four year tenor priced at the three month bank bill swap rate plus 350 basis points.
The context: Barrenjoey was the sole structuring adviser and joint lead manager to NextDC in relation to the wholesale notes offer. Commonwealth Bank, NAB and Westpac acted as joint lead managers.
Cadence Advisory provided independent financial advice to NextDC while legal advice was provided by Mallesons.
The potential raise was flagged on 20 April when NextDC announced a $2.2 billion capital plan consisting of hybrid securities and an equity placement. NextDC also launched a $1 billion wholesale offer of subordinated hybrid securities on 7 April.
What they said: “This successful allocation of our inaugural Wholesale Notes Offer represents another important step in executing NextDC’s Capital Plan and further strengthens the Company’s long-term capital structure,” NextDC CEO and managing director Craig Scroggie said.
The source: ASX
