Macquarie expands debt capacity to $450M for data centre expansion.
Macquarie Technology Group has signed a debt refinancing to expand its loan facility to $450 million to support its data centre expansion.
Announced in a statement to the Australian Securities Exchange (ASX), Macquarie has access to a five-year secured revolving loan facility that is $260 million higher than its previous facility.
As a result of the new facility and cash and cash equivalents of $118 million as of 30 September, the company has enough liquidity to finish the build of the first phase of its IC3 Super West facility.
IC3 was first announced in 2021 and then expanded its capacity to 45 megawatts in August 2023 . Despite phase one’s construction initially earmarked for completion in the latter half of 2023, the facility received the green light from the Independent Planning Commission NSW in January this year.
David Tudehope, Macquarie CEO and co-founder, said:
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.”
He added that Macquarie has received “outstanding” interest from domestic and international financial institutions.
The refinancing is expected to close before the end of the current calendar year and is subject to a range of conditions.
RBC Capital Markets acted as Macquarie’s financial advisor on the refinancing, while DLA Piper acted as legal advisor.
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Macquarie expands debt capacity to $450M for data centre expansion. source
