The company revealed the Senior Debt Facilities will remain split across three tranches, each with a tenor of five years:
A$800 million - Term Loan Facility
A$400 million - Capital Expenditure Facility
A$650 million - upsized Revolving Credit Facility (multi-currency)
The financial close for the Senior Debt Facilities is expected to occur prior to the redemption of the A$800 million in Unsecured Notes on 9 December 2020.
Post redemption of the Notes, the company will have liquidity of A$1.95 billion, comprising cash of A$893 million as at 30 June 2020 and undrawn debt under the new Senior Debt Facilities of A$1.05 billion. The announcement was authorised by the company’s Board of Directors.
NEXTDC CEO and Managing Director, Craig Scroggie said, "The level of support from our existing and new lending partners has significantly exceeded expectations, with the revised debt facilities heavily oversubscribed.
“The ability to upsize this transaction highlights the quality, maturity, and resilience of the business that NEXTDC have built over the last ten years.
“NEXTDC now has an enhanced funding runway to continue to invest in our best-in-class facilities to support the growth of our customers in our key markets."
The company recently announced strong financial results for the FY20 fiscal year, ending 30 June 2020.
