NEXTDC A$150 million equity raising

Overview:

• NEXTDC has launched a fully underwritten capital raising consisting of a placement and entitlement offer to raise A$150 million.
• The proceeds from the offer will be used to fund the acquisition of land and the associated development of a second data centre facility in Sydney (S2) as well as other general corporate purposes.
• In total, NEXTDC intends to invest between $140 million to $150 million in the development of S2 across 2017 and 2018, of which $60 million to $100 million is expected to be spent in 2017.
• Citigroup Global Markets Australia is the underwriter.
• Herbert Smith Freehills (Philippa Stone, Philip Podzebenko, Mulin Zang, Tom Hambrett, Michael Burrell) advised NEXTDC.
• Gilbert + Tobin advised Citigroup Global Markets Australia.

Wai Yee Tsang - Journalist - Asia-Pacific