Macquarie Boosts Debt Capacity to $450M for Data Center Expansion
Data center expansion is a focal point for Macquarie Technology Group as it announces a vital boost in its debt capacity to $450 million. This refinancing, confirmed through a statement to the Australian Securities Exchange (ASX), increases its revolving loan facility by $260 million from the previous amount.
The new financing arrangement, combined with cash and cash equivalents totaling $118 million as of September 30, positions the company favorably to finalize the first phase of its IC3 Super West facility. Initially launched in 2021, the expansion now boasts a capacity of 45 megawatts as of August 2023, with the first phase construction expected to be completed soon.
David Tudehope, Macquarie's CEO and co-founder, expressed enthusiasm about this milestone, highlighting that the facility would provide the capacity and flexibility needed to further invest and grow its data center operations. Tudehope noted an impressive level of interest from both domestic and international financial institutions.
This refinancing is anticipated to finalize before the end of the current calendar year, subject to various conditions. RBC Capital Markets served as Macquarie's financial advisor in this process, while DLA Piper acted as legal counsel.
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