Macquarie Technology Group announced on Monday it has successfully signed a $450 million debt refinancing agreement to support its ongoing data centre expansion, marking a significant increase of $260 million from its previous facility.
The group’s chief executive officer, David Tudehope, said the new facility will enable Macquarie to further invest in its data centre portfolio, which currently consists of sites in Macquarie Park, Canberra and Sydney’s central business district.
“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,” Tudehope said.
“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.”
Macquarie confirmed that, due to the strong appetite from domestic and international lending institutions, the new facility has been secured on “highly competitive key commercial terms”, including pricing.
In combination with cash and cash equivalents of $118 million as at 30 September, the group said it now has sufficient liquidity to complete the build of IC3 Super West Phase 1 with excess capacity to fund future growth.
Earlier this year, David Hurst, group executive for Macquarie Data Centres, said the surge in AI will lead to a “data explosion like we’ve never seen before” and added that data centres are at the heart of powering this revolution sustainably.
“It’s important the industry is acutely aware of these trends and that data centre operators build their facilities with sustainability in mind while enabling new technologies like AI,” Hurst said.
“Organisations leveraging data centre resources have an important role to play too. Hyperscalers, clouds and governments need to seek out data centre partners flexible enough to adapt to new technologies like AI, and that maximise efficiency to run it sustainably.”
