ChannelLife Australia - NextDC flush after successful $120m capital raising

Warning: This story was published more than a year ago.
Dollar_signs.jpg

NextDC flush after successful $120m capital raising

NextDC has successfully completed its latest round of capital raising, netting $120 million of additional funding the company says it needs for two new data centres.

The data centre operator completed the retail component of the capital raising last Friday, with about $30 million raised. However, about three million new shares were not taken up under the retail entitlement offer, and will be allocated to sub-underwriteres for the offer.

NextDC says it received ‘strong support’ from existing retail shareholders, with a total take-up of 77%.

The instituional component of the entitlement offer closed in November and was oversubscribed. NextDC says the component raised around $40 million, while an institutional placement, which also closed in November, raised $50 million from existing and new investors.

The $120 million capital raising joins other funding gained from a Notes II offer along with cash and undrawn senior debt, providing NextDC with more than $320 million to fund the data centres and ‘accelerated growth’.

The company announced its expansion plans in November, saying it was experiencing strong demand for its premium data centre services and its existing Brisbane and Melbourne facilities were reaching capacity constraints.

At the time, NextDC said it had advanced discussions with further large customer opportunities across the existing data centre footprint.

The company has estimated an outlay of $175 million to $200 million for the two new facilities in the first 12 to 18 months.

The new Brisbane facility, B2, is expected to have an initial capacity of 2MW+, with a target total capacity of approximately 25MW.

Interested in this topic?
We can put you in touch with an expert.

BRAND SPONSORS

Follow Us

Featured

next-story-thumb Scroll down to read: