NextDC raises A$1.1bn in convertible notes, its third capital raise in four months

NextDC is issuing A$1.1 billion (US$796 million) of convertible notes maturing on 17 September 2031, with a put option exercisable in September 2029 and a conversion premium of 32.5-37.5% above a reference price floored at A$12.40, plus capped call transactions at roughly 70% above that price. Proceeds will fund its 2027 capital-expenditure plan of A$5.25-5.75 billion, covering construction of 250 MW of newly contracted data-centre capacity and expanding its forward order book by 83%. NextDC shares closed 2.2% higher at A$12.79.