NextDC raises $60m to double notes offering target

Funds raised to extend datacentre capacity and contribute to operations

NextDC (ASX:NXT) has raised double its minimum target of $30 million in its recently completed five-year senior unsecured notes offerings.

The Australian datacentre operator said strong demand resulted in oversubscription, which led the company to raise the offer size to $60m.

The notes are unsecured obligations and rank behind the $20m senior facility provided by National Australia Bank (NAB).

NextDC chief executive officer (CEO), Craig Scroggie, said he was delighted with the investor response, which he claimed demonstrated confidence in the company's growth strategy.

NextDC announced the five-year senior unsecured notes offering on June 2, and was aiming for $30m to extend its datacentre capacity is existing co-locations and fund general corporate operations.

The company said the funds would give it flexibility in its "current ramp-up phase," and diversify current funding sources and provide addition tenor to its existing debt maturity profile.

Read More:

Tags datacentreunsecured notes offeringoperationsNextDCcolocationvirtualisationfund raisingCEOoperatorcapacityCraig Scroggiefinancials

More about Australian Security ExchangeNABNational Australia Bank

Comments

Comments are now closed

 
Computerworld
CIO
Techworld
CMO

Latest News

04:00PM
Over a quarter of Australians won’t bank on their mobile: Kaspersky
12:30PM
HDS A/NZ Partner Summit 2014 in Noosa (+15 photos)
12:28PM
The Google shakeup continues: Andy Rubin is out
12:09PM
Impact Systems boss wants to buy 10 resellers
More News
05 Nov
LIVE Webcast: Lessons Learned from the Biggest Security Breaches
05 Nov
vForum 2014
10 Nov
Ascom Myco Launch Event
11 Nov
DCIM Certified Solutions Professional
View all events