Aidan Tudehope, Macquarie Telecom
Communications and data centre provider Macquarie Telecom has expended its debt facility to $190 million with Australia and New Zealand Banking Group and Royal Bank of Canada to provide an additional $50 million of debt capacity.
The ASX listed Macquarie Telecom Group Limited (ASX: MAQ) says the additional capacity will be used to fund the increased FY21 capex requirements announced on 11 November 2020.
The expansion takes the total debt capacity available under the Syndicated Facility Agreement to $190 million, repayable in December 2023.
Macquarie said on Tuesday that taking into account the additional debt capacity, the company has an undrawn balance of $96.5million.
“Building world class data centres requires ongoing investment, which we fund through a mix of debt and free cash generated from our trading businesses,” said Chief Executive David Tudehope.
“With interest rates at historic lows, we believe that our current mix provides exceptional value, and gives the company plenty of headroom to continue our investment strategy.”
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