NextDC, the country’s largest data centre operator, has abandoned attempts to raise $500 million from the bond market a month after sending its bankers at Barrenjoey to meet with major fixed income investors.
The decision to halt the issuance, which people briefed on the discussions who requested anonymity to speak freely described as being placed in the “deep freezer”, is a rare backward step for the data centre industry, which has seen investor demand soar on big contract wins over the last year.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com