NEXTDC receives $1 billion commitment from Canadian investment group

NEXTDC has launched a A$1.0 billion wholesale offer of subordinated hybrid securities, supported by a A$1.0 billion binding commitment from La Caisse, a global investment group based in Québec, Canada.

The Australian government's Moneysmart website defines hybrid securities as a way for banks and companies to borrow money from investors, with the process of buying corporate hybrids - also known as 'subordinated notes' - defined as lending money to a company in return for regular interest payments.

The hybrid securities will provide NEXTDC with flexible, long-term capital to support the company’s growth funding requirements and strategic initiatives, including the continued development of key data centre assets and the advancement of future capacity expansions.

The hybrid securities will have a non-call period of five years and a maturity of 100 years. They are expected to be tax deductible and classified as debt for accounting purposes, and will sit outside the company’s senior debt covenants.

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, with the closing date for the Hybrid Securities Offer expected to be on or about 23 April 2026.

“The announcement of the Hybrid Securities Offer and the La Caisse commitment represent another step toward NEXTDC delivering on a material step-change in the scale of our business as we deliver on the Company’s contracted forward order book across the period to FY29 and make further investments across the portfolio of new projects," NEXTDC’s CEO and MD Craig Scroggie said.

"We are delighted with this binding commitment from La Caisse, a long‑term investor with deep experience in infrastructure, as further validation of our growth strategy.”

“This commitment will help underpin NEXTDC’s construction program, supporting growing demand for digital infrastructure in Australia and adding to La Caisse’s long track record in partnering with high-quality infrastructure operators through their growth phase," Emmanuel Jaclot, La Caisse’s EVP and head of infrastructure and sustainability, said.

"We see this as a promising first step toward a long-term partnership between La Caisse and NEXTDC.”

NEXTDC's financial results for the half year ended 31 December 2025 saw both net revenue and total revenue rising by double digits when compared to the half year prior, with underlying EBITDA also up.