NEXTDC completes an A$1.1 billion convertible notes offering for its build pipeline

NEXTDC said on 10 September 2026 it had priced A$1,100 million of 1.75% subordinated convertible notes due 2031, expecting net proceeds of about A$1,006 million after the cost of capped call transactions and before transaction costs. On 18 September it said the notes had settled on 17 September. In its 9 September launch release it said it intends to use the proceeds to fund its Australian data centre development pipeline, the capped call cost, transaction costs and general corporate purposes. We file this because it is a completed, company-confirmed financing with hard figures. How we read it: the operator raised convertible notes with a 1.75% coupon, which it says preserves its senior debt capacity, to fund a much larger build. What would change this: a pause in its build plans. Why it matters to you: it shows how data center operators are paying for new capacity.