NEXTDC agreed to a A$300 million ($236.2 million), three-year syndicated senior secured debt facility with National Australia Bank (NAB).

The new facilities will replace the company’s existing A$100 million ($78.7 million) undrawn senior secured debt facility provided by NAB. The company intends to use the majority of the new debt funds to fund future growth capital expenditure for its existing facilities and for planned developments.

NEXTDC CEO Craig Scroggie said, “When combined with the recent A$300 million ($236.2 million) notes III raising, the new facilities will result in NEXTDC having access to a total of A$600 million ($472.3 million) of debt funding, which is a further vote of confidence in the company’s credit standing and outlook.”

NEXTDC is an Australian tech company that provides data center outsourcing, colocation and cloud solutions.