ASX-listed Macquarie Technology Group said it has secured a new five-year debt facility worth A$450 million to support its data centre expansion plans.
The syndicated loan facility represents a A$260 million increase from the previous arrangement and was secured on competitive terms due to strong interest from domestic and international lenders.
"Following the acquisition of the Macquarie Park Data Centre Campus and the commencement of the IC3 Super West construction, we have marked another milestone with this successful debt refinance process," David Tudehope, chief executive officer and co-founder of Macquarie Technology Group said.
The company reported it has sufficient liquidity to complete the build of IC3 Super West Phase 1, with A$118 million in cash and cash equivalents as of 30 September.
The new facility provides additional capacity for future growth investments in the group's data centre business.
RBC Capital Markets served as financial advisor while DLA Piper provided legal advice for the refinancing.
The deal is expected to reach financial close before the end of the calendar year, subject to customary conditions.
_page-0001.jpg&w=100&c=1&s=0)
-1.jpg&w=100&c=1&s=0)
.png&w=100&c=1&s=0)
