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NEXTDC Limited (ASX:NXT)

ALERT: Price-sensitive ASX Announcement for NXT
Current share price for NXT : $14.320 0.01 (0.07%)+
Announcement
Release
7 May 2026 8:17AM
Price at Release
$14.310
Full Release
download
Summary
NEXTDC Limited has successfully completed its wholesale offering of subordinated hybrid securities valued at A$1.7 billion. This offer consists of an initial A$1.0 billion series and a delayed draw series worth A$0.7 billion. La Caisse, a global investment firm from Québec, has committed to subscribing the full amounts for both series. The hybrid securities, which are deeply subordinated, rank junior to all other debts but senior to ordinary shares, are tax deductible and classified as debt for accounting purposes. They do not include any equity conversion features and fall outside the company's senior debt covenants. Settlement for the initial series is expected on 15 May 2026, with the delayed series available for up to a year from 6 May 2026. Following the financial closure of new senior debt facilities, NEXTDC's liquidity is projected to increase to approximately A$8.4 billion by 30 June 2026. Barrenjoey served as the structuring adviser, lead manager, and offer agent, while Cadence Advisory and Mallesons provided financial and legal advice, respectively.
Key Points
  • Completion of A$1.7 billion Hybrid Securities Offer.
  • Inclusion of A$1.0 billion initial series and A$0.7 billion delayed draw series.
  • La Caisse committed to subscribing full amounts.
  • Hybrid securities are deeply subordinated, tax deductible, and classified as debt.
  • Settlement of initial series expected on 15 May 2026.
  • Delayed draw series available for 12 months starting 6 May 2026.
  • NEXTDC liquidity projected to reach A$8.4 billion by 30 June 2026.
  • Barrenjoey, Cadence Advisory, and Mallesons played key roles in the offer.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.