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NextDC aims to raise $30 million this week

NextDC aims to raise $30 million this week

Commences five-year senior unsecured notes offering

NextDC aims to raise a minimum $A30 million in the coming week to extend its datacentre capacity in existing colocations and fund corporate operations via a five-year senior unsecured notes offering.

The Australian datacentre operator claims this will give it flexibility in its "current ramp-up phase." It said it will also diversify current funding sources and provide additional tenor to its existing debt maturity profile.

NextDC chief executive officer (CEO), Craig Scroggie, said the move represents diversity of funding sources which provides further flexibility to support future growth.

The fixed-rate medium term notes will be offered to "qualified professional and sophisticated investors" at eight per cent per annum, and one per cent per annum payable on redemption.

The transaction is led by the National Australia Bank (NAB).

NextDC will also replace its existing $30m senior secured faciity with a $30m senior secured debt faciity from NAB.

The NAB facility has a maturity in June 2016, with ongoing review event requirements and financial covenant testing from March 31, 2016, together with customary drawdown terms and conditions and ongoing obligations under the facility agreement.


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Tags datacentrefundingexpansionsenior unsecured notesfinancialsNextDCcapitalNABNational Australia Bank

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