Key points
- NEXTDC successfully priced A$1.1 billion of 1.75% convertible notes due 2031
- Convertible notes offer funding for development pipeline and liquidity
- Initial conversion price set at A$16.6950 per share, 32.5% premium over reference share price
- Notes to be listed on Vienna MTF, not ASX
Full summary
NEXTDC Limited announced the successful pricing of A$1.1 billion of 1.75% subordinated convertible notes due 2031. The notes offer committed funding for NEXTDC's development pipeline and enhance liquidity. The initial conversion price is A$16.6950 per share, representing a 32.5% premium over the reference share price of A$12.60. The notes will be listed on the Vienna Multilateral Trading Facility and not on the ASX. The transaction includes Capped Call Transactions providing an economic hedge against share price increases and a delta placement of 18.6 million existing shares at a price of A$12.60 each.
Guidance
NEXTDC expects to receive net proceeds of approximately A$1,006 million from the offering.
Outlook
The offering is expected to strengthen NEXTDC's liquidity and provide committed funding for its development pipeline, while preserving flexibility to support further customer-led growth.