The new deal will replace NEXTDC's existing $100 million undrawn senior secured debt facility, also with NAB.
NextDC announced an unconditional all-cash off-market offer in July to acquire all of APDC's securities for $1.87 apiece, and with about 115 million shares outstanding, this means that it would pay about $215 million for the balance of APDC.
"The company intends to use the majority of the new debt funds to fund future growth capital expenditure for its existing facilities and for developments that the company is planning," says NEXTDC CEO Craig Scroggie (pictured).
"When combined with the recent $300 million (raising), the new facilities will result in NEXTDC having access to a total of $600 million of debt funding, which is a further vote of confidence in the company's credit standing and outlook."
With NEXTDC building its war chest, it is expected the Brisbane-based cloud service provider will ramp up its battle with rival 360 Capital for control of APDC.
At the centre of the bitter dispute is the potential takeover of the $215 million APDC, which owns three data centres in Sydney, Melbourne and Perth that house the storage for NEXTDC's operations.
NEXTDC's $1.87 per share offer is greater than 360 Capital's $1.80, and 360 is set to wrap up its due diligence on APDC this week.
NEXTDC owns a 17 percent stake in APDC (ASX: AJD) while Tony Pitt's 360 Capital holds almost 20 per cent.
AJD was spun off from NextDC four years ago and when 360 Capital bought its stake in May, it proposed replacing APDC's board of directors.
Business News Australia
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