Macquarie Boosts Debt Capacity to $450M for Data Center Expansion

Sunday, 20 October 2024, 16:30

Data center expansion efforts are taking a significant leap as Macquarie Technology Group boosts its debt capacity to $450 million. This strategic refinancing will enable enhanced business operations within the industry. The new facility, coupled with existing cash reserves, positions Macquarie to complete its IC3 Super West facility.
Arnnet
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.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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