Australian retail data center provider NextDC has received a AU$300m ($236.22m), three year syndicated capital investment from the National Australia Bank, which it says will allow it to fund future capital expenditure.
The company plans to use the capital to grow its physical footprint by expanding current facilities and building new ones when the debt facilities have been legally cleared at the end of August.
Planning the next DCs
“When combined with the recent AU$300m Notes III raising, the new facilities will result in NextDC having access to a total of AU$600m ($474.44m) of debt funding, which is a further vote of confidence in the company’s credit standing and outlook,” said Craig Scroggie, NextDC CEO.
In September last year the company pledged to raise AU$150m ($118.12m) in order to build a second data center in Sydney, S2, and earlier this year announced its plans to build data centers in Brisbane and Melbourne, respectively, in Queensland’s Fortitude Valley and near the Tullamarine airport, costing a total of AU$160m ($125.99m). Once completed, the company will have eight data centers in operation.
Three of its facilities, however, in Sydney (S1), Melbourne (M1) and Perth (P1) belong to the Asia Pacific Data Centre Group (APDC), which NextDC previously owned before spinning it off to release funds in 2013.
However, recently the company was forced to put forward a takeover bid for APDC in order to prevent majority shareholder 360 Capital from acquiring the business.