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Herbert Smith Freehills is delighted to have advised NEXTDC Limited on its A$150 million fully underwritten equity raising.

It consisted of a A$50 million placement to institutional investors at A$4.06 per share and a 1 for 9.1 accelerated non-renounceable pro-rata entitlement offer at A$3.74 per share, announced to the ASX on 6 September 2016.

The proceeds from the offer are expected to provide NEXTDC with adequate funds to complete the initial investment in a second data centre facility to be developed in Sydney in order to meet strong demand in its existing data centre in Sydney.

The Herbert Smith Freehills team was led by partners Philippa Stone and Philip Podzebenko, who were supported by solicitors Mulin Zang, Tom Hambrett, and Michael Burrell.

Philippa Stone said, “Herbert Smith Freehills is delighted to have again advised NEXTDC on this important transaction, having previously advised NEXTDC on its A$120 million ANREO entitlement offer and placement in November last year”.

Philip Podzebenko commented, “NEXTDC has been active in pursuing its growth strategy and we look forward to continuing to work with NEXTDC and their dedicated management team in the future”.

The offer is being underwritten by Citigroup Global Markets Australia Pty Limited which is being advised by Gilbert + Tobin.

About Herbert Smith Freehills

Operating from 26 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. We provide many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including energy, natural resources, infrastructure and financial services.

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Philippa Stone photo

Philippa Stone

Partner, Sydney

Philippa Stone