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- NEXTDC (NXT) enters into a syndicated facility agreement for a $400 million senior debt facility to fund ongoing incremental growth
- On a pro-forma basis, NEXTDC will have liquidity of around $2 billion inclusive of cash approximating to $464 million and undrawn facilities of $1.5 billion
- The additional debt capacity is expected to provide the company with additional headroom to fund its medium to longer term growth aspirations
- Shares in NEXTDC are up 0.91 per cent, trading at $9.43 at 2:45 pm AEDT
NEXTDC (NXT) has entered into a syndicated facility agreement for a $400 million senior debt facility to fund ongoing incremental growth.
On a pro-forma basis, NEXTDC will have liquidity of around $2 billion which includes roughly $464 million in cash and undrawn facilities of $1.5 billion as of December 31, 2022.
The additional debt capacity is expected to provide the company with more headroom to fund its medium to longer term growth aspirations.
Additionally, the company received lender approval under its existing $2.5 billion senior debt facilities to favourably amend its existing package of financial convenants and terms to accomodate the company’s growth aspirations in the Asia Pacific.
HSBC and NAB acted as mandated lead arrangers, underwriters and bookrunners (MLAUBs) on the new facility, which was syndicated to NEXTDC’s existing financiers.
Together, the MLAUBs will arrange and manage the syndication of the senior debt facilities, with financial close expected to be achieved in February 2023.
Shares in NEXTDC were up 0.91 per cent, trading at $9.43 as of 2:45 pm AEDT.
