Successful refinancing and upsizing of debt capacity to $450m
21 October 2024
Macquarie Technology Group Limited (ASX: MAQ) (the “Group”) is pleased to announce the successful signing of a debt refinancing to support our ongoing data centre expansion.
Under the new syndicated facility agreement, the Group has access to a five-year secured revolving loan facility in the amount of A$450m, representing an increase of A$260m to the previous facility. Due to strong appetite from domestic and international lending institutions, the new facility has been secured on highly competitive key commercial terms, including pricing. Other terms are customary for a loan facility of this nature.
In combination with cash and cash equivalents of $118m as at 30 September, the Group has sufficient liquidity to complete the build of IC3 Super West Phase 1 with excess capacity to fund future growth.
Macquarie Technology Group’s Chief Executive Officer and Co-Founder David Tudehope commented: “Following the acquisition of the Macquarie Park Data Centre Campus and the commencement of the IC3 Super West construction, we have marked another milestone with this successful debt refinance process. The new facility will provide the capacity and flexibility to enable us to further invest and expand our data centre business.
“We have been delighted by the outstanding interest received from domestic and international financial institutions in this process and are looking forward to building strong relationships with the new group of lenders.”
The refinancing is subject to the satisfaction of customary conditions precedent and is expected to achieve financial close before the end of this calendar year.
RBC Capital Markets acted as financial advisor and DLA Piper as legal adviser to the Group in relation to the refinancing.
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About Macquarie Technology Group
We are Australia’s data centre, cloud, cyber security and telecom company for mid to large business and government customers. The way we do this is completely different from our competitors… we provide the best customer service in Australia. Macquarie Data Centres is the wholesale data centre infrastructure business of Macquarie Technology Group Ltd. We are trusted by Fortune 500 companies, large multinationals, and the Australian Federal Government to provide secure, sovereign, and compliant data centre services.
https://macquarietechnologygroup.com/
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