NextDC Ltd announced it will be issuing senior unsecured notes shortly. The company builds and operates data centres in Australia and New Zealand and is seeking to raise a minimum $70 million to fund the development of a new Brisbane data centre and for other general corporate purposes.
NextDC issued its series 1 notes in June 2014, taking in twice the $30 million it initially sought. The second series will have the same structure: the notes have an 8.00% coupon and June 2019 final maturity date; they are callable after 2.5 years (December 2016); and, every six months afterwards, with early redemption for tax events and change of control events. The first series of notes have a feature whereby if they are not redeemed at each six monthly call date, investors receive a bonus 0.5% per six months when they are finally redeemed. At this stage it is unknown as to whether the second series will have this feature.