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.

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Tags datacentreunsecured notes offeringoperationsNextDCcolocationvirtualisationfund raisingCEOoperatorcapacityCraig Scroggiefinancials

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