Scroggie wins new lenders as NEXTDC lifts debt book to $1.5 billion
Brisbane based NEXTDC has entered a new debt deal for $1.5 billion with a network of providers.
Data centre owner and developer NEXTDC has done a deal on $1.5 billion in debt
The debt facility will consist of a $800 million term loan, $400 million for capital expenditure and $300 million of revolving credit.
The deal was done with Credit Suisse, HSBC, NAB and Natixis.
The company, which owns data centres, said the debt would provide a significant improvement in its weighted average cost of debt and duration. It would also improve covenants and flexibility.
NEXTDC said it would use the new facility to redeem $800 million in unsecured notes.
The deal would also give NEXTDC liquidity of $1.6 billion, including cash of $893 million and undrawn debt of $700 million after the redemption of the unsecured notes.
Managing director Craig Scroggie said the company was encouraged by the support of lenders.
“The new debt facilities provide NEXTDC with greater funding firepower as we continue to execute on our development pipeline in the coming years to satisfy growing customer demand,” Scroggie said.
