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NEXTDC Limited (ASX:NXT) has doubled an unsecured notes offering to $60 million, following a surge in demand from investors.
The data centre operator initially launched the five-year offer on Monday to strengthen its funding capacity.
The notes will increase flexibility for expansion, as well as support the company’s existing debt maturity profile.
CEO Craig Scroggie says the move has been successful and will usher in the next phase of growth.
“We are delighted with the investor response to NEXTDC’s notes offering, which demonstrates confidence in the company’s growth strategy and provides us with improved flexibility as our expansion ramps up over the coming years,” he says.
As a result of the increased offer size, the company reduced its proposed debt facility of $30 million with NAB, to $20 million – subject to raising the full amount.
“Accessing the wholesale debt market to ensure longer term funding demonstrates NEXTDC’s diligent approach to capital management.
“Achieving diversity of funding sources provides additional flexibility to support our future growth,” Scroggie says.
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