NextDC seeks funds for second Brisbane data centre

B1 at 90 per cent contracted utilisation

NextDC will seek to raise at least $70 million through an unsecured notes offering, the data centre company announced this morning. The money will be used to fund a second Brisbane data centre, dubbed B2.

The company’s existing Brisbane data centre, B1, is currently at 90 per cent contracted utilisation, the company said.

B1 opened in 2011.

NextDC expects B2 to cost $65-$75 million, including construction, land and an initial 1MW capacity.

When NextDC in August released its results for the 12 months ending 30 June, it noted that B1 was at 79 per cent utilisation and it was assessing the potential for a second Brisbane data centre.

The company also noted that it was considering a second Melbourne data centre, M2, based on prospective customer demand and M1’s then 76 per cent utilisation.

A decision on M2 will be made in 2016.

NextDC reported revenue of $60.9 million for FY15, EBITDA of $8 million and a statutory net loss after tax of $10.3 million.

For FY16 the company expects revenue of $85 million to $90 million.

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