NEXTDC Launches $1B Hybrid Offer Backed by Binding $1B Commitment from La Caisse
Key Takeaways
NEXTDC has launched a $1.0 billion Hybrid Securities Offer backed by a binding commitment from La Caisse, a CAD $517 billion global investor, boosting pro-forma liquidity to approximately $5.2 billion to fund its contracted data centre pipeline through FY29.
- NEXTDC has launched a $1.0 billion Hybrid Securities Offer with a binding commitment from La Caisse, a global investment group managing CAD $517 billion in net assets.
- The hybrid securities carry a 7.50% per annum fixed coupon for the first five years, stepping up to 9.20% per annum from year five, with a 100-year maturity and five-year non-call period.
- Pro-forma liquidity reaches approximately $5.2 billion as at 31 December 2025, providing a substantial capital runway to support NEXTDC's contracted forward order book through FY29.
- There are no equity conversion features, meaning existing shareholders face zero dilution risk from the hybrid securities transaction.
- The offer is expected to close on or about 23 April 2026, with NEXTDC also flagging a potential follow-on subordinated wholesale notes issue to further diversify its funding base.
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