Tuesday, 22 December 2020 10:05

Macquarie Telecom expands debt facility to $190 million Featured

By
David Tudehope, Macquarie Telecom David 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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Peter Dinham

Peter Dinham - an iTWire treasure is a mentor and coach who volunteers also a writer and much valued founding partner of iTWire. He is a veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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