NEXTDC
Corporates find more crisis funding options
The economy-wide impact of COVID-19 has affected Australian corporate borrowers in a host of ways. But access to funds has generally remained in place as issuers navigate a path back to some type of normality – even for those in the most affected sectors.
The time is now
While true corporate deals in the Australian market last year did not reach the heights of 2017, a second-half resurgence brought record volume from triple-B issuers and hints that extended duration is on the cards once more. The question is whether the corporate space will continue to grow in 2020 or lose momentum as it did in 2018.
Investment for an uncertain future
KangaNews and National Australia Bank’s Fixed Income Beyond the Institutional Sector Summit returned to Sydney on 1 August. Agenda discussions focused on the future economy and what investors need to do to adapt to a rapidly changing world, with perspectives from a stellar range of speakers spanning the business and market universe.
Local market continues to support NEXTDC’s growth
Ongoing institutional support for unrated NEXTDC has allowed the returning issuer further to bolster its capital-requirement capabilities for the future. Capacity issues are not yet a valid concern, however the issuer is making plans for when unrated supply may eventually outpace demand in the local market.
NEXTDC prices A$200 million dual-tranche June 2022 notes increase
NEXTDC launches increase to June 2022 notes
On 3 June, NEXTDC (NR) launched an aggregate A$150-200 million (US$104-138.6 million) tap to either or both of its fixed- and floating-rate June 2022 notes. The fixed-rate notes have an indicative yield of 4.918 per cent, while the floating-rate note tap is being marketed at 375 basis points area over three-month bank bills. National Australia Bank is sole lead arranger and bookrunner.
