Macquarie Technology Group's major refinancing deal

Macquarie Technology Group (ASX:MAQ) has successfully refinanced its debt, increasing its capacity to A$450 million. This new 5-year secured revolving loan facility marks an increase of A$260 million from the previous arrangement. The refinancing supports the company's data centre expansion, specifically the IC3 Super West Phase 1 construction. The facility was secured on competitive terms, with strong interest from lenders globally.

Macquarie Technology Group's strategic refinancing overview

Macquarie Technology Group has refinanced its debt, raising its capacity to A$450 million through a new secured revolving loan facility, which is an increase of A$260 million. This refinancing is aimed at supporting the company's expansion in the data centre sector, particularly the IC3 Super West Phase 1 project. With cash reserves of A$118 million, the company is well-positioned to pursue growth initiatives. The refinancing's completion is expected by the end of the calendar year, pending customary conditions. RBC Capital Markets and DLA Piper acted as financial and legal advisors, respectively. This move is part of Macquarie Technology Group's strategy to bolster its infrastructure and maintain its competitive edge in the data centre industry.

Executive insights on refinancing achievement

This is a significant milestone for Macquarie Technology Group, allowing us to invest further in our data centre expansion. We are pleased with the strong interest shown by financial institutions and the opportunity to build relationships with new lenders.