Australian data center operator NextDC has secured AU$2 billion (US$1.42bn) in additional debt financing and revealed it has also secured 16MW of new business.

The funding takes the total debt financing available to NextDC to AU$5.1 billion (US$3.3bn). The company intends to use the money to “primarily support capital expenditure requirements associated with recent customer contract wins and ongoing data center developments.”

A consortium of banks, including the Australia and New Zealand Banking Group, Commonwealth Bank of Australia, MUFG Bank, National Australia Bank, Royal Bank of Canada, and The Hong Kong and Shanghai Banking Corporation, Sydney branch, are providing the debt facility, which matures at the end of 2030.

In a separate announcement, NextDC said new contracts had seen contracted capacity at its data centers increase by 16MW as of the end of May. The company now has deals in place for 244MW of capacity, up 7 percent on the previous month.

“The largest increase has come from NextDC’s data center under development in Kuala Lumpur, Malaysia, which now totals 10MW, representing 15 percent of its planned capacity,” the company said. The capacity has been taken by an unnamed hyperscale customer.

The Kuala Lumpur facility, KL1, is scheduled to come online in early 2026, and Craig Scroggie, CEO and managing director of NextDC, said the facility represents a “strategic milestone” for his company’s Asia expansion.

“Securing our first 10MW hyperscale customer ahead of launch in Kuala Lumpur is a strong endorsement of our execution capacity and validates KL1#s role as AI-native digital infrastructure,” Scroggie said.

KL1 will eventually offer 65MW of space, and is part of NextDC’s push into Asia. It currently has sites in planning or under evaluation in Tokyo, Japan; Bangkok, Thailand; and Singapore, as well as Kuala Lumpur and Johor in Malaysia.

The company first revealed its plans to raise additional debt finance last September.