Mallesons has advised Australian data centre operator NEXTDC on the launch of its AUD1 billion (USD719 million) wholesale offer of subordinated hybrid securities to support the company’s expansion plans.
Andrew Maynes, partner in charge of the firm’s Sydney office, led the team.
The offer, backed by Quebec-based investment group La Caisse, provides NEXTDC with flexible, long duration capital. The funds will be utilized to build new data centres and expand existing capacity as the company scales its platform to meet accelerating demand for digital infrastructure.
The hybrid securities also feature a five-year non-call period and a 100-year maturity. They are expected to be tax-deductible and classified as debt for accounting purposes, and will sit outside NEXTDC’s senior debt covenants.
The offer is expected to close on or around 23 April 2026, with settlement and issuance expected shortly thereafter.
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