NEXTDC secures $1.6 billion in debt facilities for expansion

Australian data center provider NEXTDC announced on Friday it has secured new senior debt facilities totaling A$2.3 billion (approximately $1.60 billion). This significant funding is earmarked to support the capital expenditures required for recent customer contract wins and the company's ongoing data center development projects.

The newly signed facilities represent an increase of A$500 million compared to the A$1.8 billion in commitments initially announced in May. NEXTDC highlighted that this upsize reflects the continued strong support from a diverse syndicate of both domestic and international banks. Upon the financial close of these new facilities, NEXTDC's total available senior debt will rise from A$6.4 billion to A$8.7 billion.

This financial move comes after a period of substantial growth for the company. In April, NEXTDC reported that its pro-forma contracted utilization, the total power capacity formally signed up by customers, had surged by approximately 60 percent to 667 megawatts as of March 31, a significant jump from the end of December. The financial close for these new debt facilities is anticipated to occur in mid-July.

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The upsize reflects continued strong support from a broad syndicate of domestic and international banks.