NEXTDC Launches AU$1 Billion Hybrid Securities Offer Supported by La Caisse Commitment

MT Newswires Live
Apr 07

NEXTDC (ASX:NXT) launched a AU$1 billion wholesale offering of subordinated hybrid securities, supported by a AU$1 billion binding commitment from Canadian investment group La Caisse, according to a Tuesday filing with the Australian bourse.

The securities will have a non-call period of five years and a maturity of 100 years. The offering will give NEXTDC flexible, long-term capital to support its growth funding requirements, including for the continued development of data center assets, per the filing.

"Having received a commitment from La Caisse to apply for the full size of the hybrid securities offer, the company is now offering the hybrid securities to a group of institutional investors, NEXTDC said, adding that the offer is expected to close on or about April 23.

La Caisse's allocation of the securities will be determined after the close of the offering.

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