NEXTDC Seeks A$2.9 Billion Loan to Expand Data Centers in Asia

NEXTDC Ltd., an Australian data-center operator, is seeking a A$2.9 billion ($1.9 billion) syndicated loan from banks to expand its operations in Asia.

Chief executive officer Craig Scroggie confirmed the terms of the loan in an emailed reply to questions from Bloomberg.

“The market dynamics are extraordinary, driven by the surging demand for digital infrastructure to support the rapid expansion of cloud and AI technologies across the Asia-Pacific region,” he said in the statement.

The syndicated loan, together with a A$750 million capital raising announced Tuesday, will provide the firm with more than A$3 billion to fund a rollout ...