Australian data center firm NextDC has secured an AU$400 million (US$279m) debt facility to fund its growth.

The company this week announced it has entered into a syndicated facility agreement for a new AU$400 million senior debt facility to fund ‘ongoing incremental growth’, maturing in December 2026.

“The additional debt capacity is expected to provide NextDC with additional headroom to fund its medium to longer-term growth aspirations,” the company said.

The company said including the new facility, it would have liquidity of approximately AU$2 billion (US$1.39bn), including cash of approximately of AU$464 million (US$323m) and undrawn facilities of AU$1.5 billion (US$1.04bn).

NextDC said it had also received lender approval under its existing AU$2.5 billion senior debt facilities to favorably amend its existing package of financial covenants and terms to ‘accommodate the company’s growth aspirations in the Asia Pacific’.

HSBC and NAB acted as mandated lead arrangers, underwriters, and bookrunners on the new facility, which was syndicated to NextDC’s existing financiers. Cadence Advisory acted as financial adviser and Herbert Smith Freehills as legal adviser.

NextDC has facilities in operation and development in Brisbane, Canberra, Adelaide, Darwin, Sydney, Melbourne, Perth, and the Sunshine Coast.