Australian data centre group NEXTDC has raised a further A$700m (€426bn) from La Caisse and A$1.5bn in a fully underwritten entitlement offer, giving it a total of A$2.2bn in additional capital to accelerate development of its data centres.
The company said, in addition to the A$1bn the Canadian investor had committed to its initial hybrid securities offer earlier this month, it had taken up A$700m in the expanded offer.
Craig Scroggie, NEXTDC CEO and managing director, said: “I am pleased to see continued support from La Caisse through their increased commitment to the enlarged hybrid securities offer.”
The listed company said the enlarged capital plan was in response to a “step change” in contracted utilisation and announced an incremental 250MW of accelerated utilisation in its data centre project in Western Sydney, known as S4. The latest contract has lifted its contracted utilisation capacity from 544MW at the end of March to 667MW.
NEXTDC said following the recent capital injection, its total funding capacity has increased to A$5.9bn, including undrawn debt facilities.
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