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Treasury

Nextdc Completes Over AU$1 Billion Convertible Notes Offering

Nextdc (ASX:NXT) completed its AU$1.1 billion offering of subordinated convertible notes due 2031, with the transaction settling on Thursday, according to a Friday filing with the Australian bourse.The notes bear annual interest of 1.75%, payable semiannually, and are convertible into ordinary shares of the company in accordance with their terms, per the filing.The company also completed the related cash-settled capped call transactions, while the delta placement settled on Monday without the company issuing any shares or receiving proceeds, the filing said.The notes have been approved for trading on the Vienna Multilateral Trading Facility from Friday and will not be listed on the Australian Securities Exchange, the filing added.

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Asia

Australia's Data Center Reforms Could Shift Sector Credit Profile Toward Execution Risk, Says Fitch

Australia's proposed data center reforms could shift the sector's credit profile toward greater execution and financing risk, Fitch Ratings said in a Saturday report.The ratings agency said the proposed package would require data centers to fund transmission and distribution upgrades linked to their load, offset electricity consumption through renewable generation, demonstrate reliable backup access, and contribute to system security, with networks potentially requiring prudential support such as bank guarantees or cash where augmentation costs may not be fully recovered if associated load does not proceed as expected.Fitch said these measures could increase upfront capital commitments and delay cash flow stabilization, although strong demand and limited supply in key markets may allow operators to recover some of the additional costs through customer contracts over time. The treatment of projects already under development remains uncertain, it added.The agency said financing outcomes are likely to become more dependent on execution risk, with project bankability increasingly tied to power access, delivery capability, and funding flexibility alongside demand fundamentals, although some incremental costs may ultimately be recoverable through customer pricing.Shares of Goodman Group (ASX:GMG) and Nextdc (ASX:NXT) fell about 1% in recent Monday trade, while Megaport (ASX:MP1) were down past 3%.

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Asia

Megaport, Nextdc, Maas-Backed Firmus Working With Nvidia on Up to 2-Gigawatt AI Infrastructure Buildout

Megaport (ASX:MP1), Nextdc (ASX:NXT), and Maas Group-backed (ASX:MGH) Firmus are among the artificial intelligence-related firms collaborating with Nvidia to expand land, power, and shell capacity designed to host multiple generations of Nvidia DSX compute infrastructure, according to a Thursday statement by Nvidia.The partners are targeting a combined buildout of up to two gigawatts by 2027, meeting surging demand from AI labs and AI-native startups, the statement added.Firmus is expanding its Project Southgate initiative, developing Nvidia-powered AI factories designed to support hyperscale and AI-native demand across Australia and the Asia-Pacific, Nvidia said.Meanwhile, Megaport is expanding access to Nvidia accelerated computing through its unit Latitude.sh, through its global software-defined network to support the inference needs of leading AI enterprises, reducing latency and improving responsiveness, per the statement.Nextdc has developed AI-ready data center infrastructure designed to support high-density AI factories, providing the power, cooling, connectivity and physical infrastructure required to deploy increasingly compute-intensive AI systems, Nvidia added.Megaport's shares rose almost 5% in recent Thursday trade, Maas Group fell nearly 2%, and Nextdc was down about 4%.

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Treasury

NEXTDC Prices AU$1.1 Billion Convertible Notes Offering

NEXTDC (ASX:NXT) priced its offering of AU$1.1 billion of 1.75% subordinated convertible notes due 2031, according to a Thursday filing with the Australian bourse.Unless the company elects to settle a conversion in cash, the notes are convertible into ordinary shares at an initial price of AU$16.695 per share.The offering, which is expected to settle on Sept. 17, will strengthen NEXTDC's liquidity and provide committed funding for its development pipeline, the company said.

ASX:NXT
Treasury

Nextdc Launches Over AU$1 Billion Convertible Note Offering

Nextdc (ASX:NXT) launched an institutional offering of AU$1.1 billion in subordinated convertible notes due 2031, seeking to fund its Australian data-center development pipeline while strengthening liquidity, according to an Australian bourse filing on Wednesday after market hours.The notes are expected to carry a 1.25% to 1.75% annual cash coupon, with an initial conversion price set roughly 33% to 38% above the reference share price, while a capped-call hedge could lift the effective conversion price to as much as 70% above the reference price, per the filing.Settlement is expected around Sept. 17, with investors having the option to put the notes back to the company in September 2029, while pro forma liquidity is expected to increase to around AU$9.78 billion from AU$8.68 billion before transaction costs, the filing said.The company will also undertake an about AU$330 million delta placement of existing shares to facilitate investor hedging, with no new shares issued or proceeds received, while the placement price of at least AU$12.40 per share will establish the reference share price, the filing added.

ASX:NXT
Asia

ASX Biggest Losers

Here are the ASX-listed companies with the biggest losses on Tuesday.4DMedical (ASX:4DX): -4%, AU$3.38IperionX (ASX:IPX): -4%, AU$3.01Domino's Pizza Enterprises (ASX:DMP): -3%, AU$19.58Nine Entertainment (ASX:NEC): -3%, AU$0.86Sims Metal Management (ASX:SGM): -3%, AU$24.40Elders (ASX:ELD): -3%, AU$6.51Dicker Data (ASX:DDR): -3%, AU$14.35HMC Capital (ASX:HMC): -2%, AU$3.30Judocaphol (ASX:JDO): -2%, AU$1.04NEXTDC (ASX:NXT): -2%, AU$12.47

ASX 200ASX:4DXASX:DDRASX:DMPASX:ELDASX:HMCASX:IPXASX:JDOASX:NECASX:NXTASX:SGM
Asia

Australian Shares Rise; NEXTDC Logs Earnings in Fiscal 2026, Revenue Up

Australian shares rose on Friday, tracking technology-sector-driven gains on Wall Street.The S&P/ASX 200 Index gained 0.6%, or 54.10 points, to close at 9,092.30.Overnight on Wall Street, the Nasdaq Composite jumped 1.6%, the S&P 500 rose 0.7%, and the Dow Jones climbed 0.2%.Brent crude oil futures ​fell to trade around $89 per barrel after Iran and Oman agreed on the control of the Strait of Hormuz and sharing revenues.In company news, NEXTDC (ASX:NXT) logged AU$0.122 in earnings per share for fiscal 2026, compared with a loss of AU$0.0959 a year ago. For the 12 months ended June 30, revenue was AU$496.5 million versus AU$427.2 million previously.Harvey Norman Holdings (ASX:HVN) logged AU$0.4236 in earnings per share for fiscal 2026, compared with AU$0.415 a year ago. For the 12 months ended June 30, total system sales revenue was AU$9.64 billion versus AU$9.35 billion previously.Lastly, WAM Capital (ASX:WAM) logged AU$0.1113 in loss per share for fiscal 2026, compared with a profit of AU$0.1963 a year ago. It is now targeting a fiscal 2027 full-year dividend of AU$0.08, comprising an interim dividend of AU$0.04 per share and a final dividend of AU$0.04 per share. Its shares earlier reached a 16-year low point.

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Asia

NEXTDC's Fiscal 2026 Total Revenue, Net Revenue, Underlying EBITDA Beat Estimates, RBC Capital Markets Says

NEXTDC's (ASX:NXT) fiscal 2026 total revenue, net revenue, and underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) exceeded RBC Capital Markets' and consensus estimates, according to a Friday note by the investment firm.Its total revenue of AU$496.5 million and net revenue of AU$405 million were both 2% above RBC's estimates and 1% higher than consensus. Both figures increased 16% year-over-year.Its underlying EBITDA of AU$248.8 million was 7% above RBC's estimates and 4% above consensus, up 15% year-over-year. Its management expects contracted EBITDA to exceed AU$1 billion from existing contracts.Total capital expenditure exceeded the top of the guidance range, reflecting accelerated construction to meet contracted customer delivery dates and the timing of progress and land acquisition payments. The Australian market has elevated hyperscale, neocloud, and large language model demand, with robust retail, enterprise, or sovereign demand across major metros.The brokerage assigned NEXTDC an outperform rating with a AU$22 per share price target.

ASX:NXT
Asia

Nextdc Logs Earnings in Fiscal 2026, Revenue Up

Nextdc (ASX:NXT) logged AU$0.122 in earnings per share for the fiscal 2026, compared with a loss of AU$0.0959 a year ago, according to a filing on Thursday after market hours.For the 12 months ended June 30, revenue was AU$496.5 million versus AU$427.2 million previously, the Australia-listed technology company added. Analysts surveyed by FactSet expected AU$488.2 million.The company expects fiscal 2027 net revenue of AU$615 million to AU$640 million, underlying earnings before interest, taxes, depreciation and amortization of AU$385 million to AU$410 million, and capital expenditure of AU$5.25 billion to AU$5.75 billion.

ASX:NXT
Asia

Data Center Build-Out in Australia Could Total AU$150 Billion by 2030, Become Dominant Driver of Business Investment Growth, CommBank Says

Australia has around six gigawatts of potential data center capacity in its pipeline with an estimated build-out of around AU$150 billion by 2030, making it the potential dominant driver of business investment growth over the next few years, Commonwealth Bank of Australia said in a note on Thursday.Around 50% of this proposed capacity is in New South Wales and around 25% in Victoria, with interest growing in South Australia, Western Australia, Queensland, and the Northern Territory.The bank estimated that data centers will add around six percentage points to real business investment growth in 2026 and around five percentage points in 2027. Data center investment will contribute around 0.2 percentage points to real gross domestic product growth in both 2026 and 2027, per the lender.Only three of 162 operational data centers in the country currently have capacity above 100 megawatts, the bank said. However, many projects in the pipeline have a capacity of several hundred megawatts or nearly one gigawatt, it added.NextDC's (ASX:NXT) shares were marginally higher in recent Thursday trade, while Digico's (ASX:DGT) shares gained 1%. Goodman Group's (ASX:GMG) shares shed over 1%, and Macquarie Technology's (ASX:MAQ) shares tumbled 3%.

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Asia

Australian Shares Flat; NEXTDC Reports 11% Increase in Pro Forma Contracted Utilization

Australian shares were again flat on Tuesday after oil prices eased from a one-month high point on reports of potential de-escalation in the Middle East conflict.The S&P/ASX 200 Index was little changed to close at 8,793.30.Brent crude oil futures fell nearly 1% to trade around $88 per barrel. An Iranian official said the country had received a proposal from mediators for a 10-day ceasefire, Reuters reported. This was despite the Houthis in Yemen saying they would impose a naval blockade on major oil producer Saudi Arabia.Spot gold rose nearly 1% to $4,045.65 per ounce.On the domestic front, the ANZ-Roy Morgan Australian consumer confidence rose 0.3 points to 75.6 in the week of July 13 to July 19, ANZ reported.Australian consumer confidence edged higher last week, with improved sentiment around major household purchases largely offset by "weaker confidence in personal finances and the economic outlook," according to ANZ economist Sophia Angala.In company news, NEXTDC's (ASX:NXT) pro-forma contracted utilization increased 11% since April 20 to 740 megawatts as of June 30 following additional customer contract awards. The company's pro forma forward order book increased to 565 megawatts due to contract wins.Telix Pharmaceuticals (ASX:TLX) reported second-quarter revenue rose 21% to $247 million due to strong sale of precision medicine category. The company expects fiscal 2026 income to track in line with the upper end of the outlook of $950 million to $970 million.Lastly, PYC Therapeutics (ASX:PYC) said autosomal dominant optic atrophy (ADOA) patients in the ongoing clinical trials of its PYC-001 drug candidate showed sustained improvement in both visual acuity and retinal stress following repeat doses.

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Asia

Market Chatter: NEXTDC's Higher Contracted Utilization Creates Upside to Consensus Fiscal Year 2028 EBITDA Forecasts, Citi Says

NEXTDC's (ASX:NXT) latest 73-megawatt increase to its contracted utilization represents upside to consensus forecasts for fiscal 2028 earnings before interest, taxes, depreciation, and amortization (EBITDA), Citi said in a note, the Australian Financial Review reported Tuesday.Citi analyst Siraj Ahmed believes the added capacity could bring about AU$115 million in annual EBITDA at AU$1.6 million per megawatt, according to the report.The equity research firm maintained its buy rating on NEXTDC with a price target of AU$19.10, AFR reported.The company's shares advanced 5% in recent Tuesday trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Update: NEXTDC Reports 11% Increase in Pro Forma Contracted Utilization; Shares Rise 3%

(Updates with the stock movement in the headline and last paragraph.)NEXTDC's (ASX:NXT) pro-forma contracted utilization increased 11% since April 20 to 740 megawatts as of June 30 following additional customer contract awards, according to a Tuesday filing with the Australian bourse.The company's pro forma forward order book increased to 565 megawatts due to contract wins, per the filing.The pro forma forward order book is expected to progressively convert to billings, revenue, and earnings before interest, taxes, depreciation, and amortization (EBITDA) over the fiscal year 2026 to fiscal year 2030 period, NEXTDC said.The company's net revenue, underlying EBITDA, and capital expenditure guidance for fiscal year 2026 is unchanged.NEXTDC shares gained 3% in recent Tuesday trade.

ASX:NXT
Asia

NEXTDC Reports 11% Increase in Pro Forma Contracted Utilization

NEXTDC's (ASX:NXT) pro-forma contracted utilization increased 11% since April 20 to 740 megawatts as of June 30 following additional customer contract awards, according to a Tuesday filing with the Australian bourse.The company's pro forma forward order book increased to 565 megawatts due to contract wins, per the filing.The pro forma forward order book is expected to progressively convert to billings, revenue, and earnings before interest, taxes, depreciation, and amortization (EBITDA) over the fiscal year 2026 to fiscal year 2030 period, NEXTDC said.The company's net revenue, underlying EBITDA, and capital expenditure guidance for fiscal year 2026 is unchanged.

ASX:NXT
Asia

ASX Preview: Australian Shares to Rise as Oil Falls; Bravura Solutions Raises Fiscal 2026 Cash EBITDA Guidance

Australian shares are poised for a modest rise on Friday, tracking gains in global markets as easing oil prices and renewed diplomatic hopes helped ease concerns over escalating Middle East tensions.Investors also weighed a rebound in gold prices from a one-week low and the outlook for the US Federal Reserve's interest-rate path after Iran launched retaliatory strikes on US military assets in Gulf states.Overnight, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.8%, 1.3%, and 0.3%, respectively.In the macroeconomy, Australia's rental market remained under pressure in the June quarter, with quarterly rental growth easing to 1.6% from 2.1% in March, while annual growth accelerated to 5.9% from 5.7% in the first quarter, pushing the national median dwelling rent to a record AU$705 per week, Cotality said Thursday.In corporate news, Bravura Solutions (ASX:BVS) now expects fiscal 2026 cash earnings before interest, taxes, depreciation, and amortization (EBITDA) of about AU$77 million, up from a previous guidance range of AU$69 million to AU$73 million.NEXTDC (ASX:NXT) entered into binding documentation for new senior debt facilities of AU$2.3 billion, an increase of AU$500 million on the earlier AU$1.8 billion of commitments.Australia's benchmark index fell 0.3% or 22.6 points to close at 8,762.50 on Thursday.

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Asia

NEXTDC Enters Binding Documentation for AU$2.3 Billion in Senior Debt Facilities

NEXTDC (ASX:NXT) entered into binding documentation for new senior debt facilities of AU$2.3 billion, an increase of AU$500 million on the earlier AU$1.8 billion of commitments, according to a Friday Australian bourse filing.Upon financial close of the new senior debt facilities, NEXTDC's total available senior debt facilities will increase to AU$8.7 billion from AU$6.4 billion. Margins on the new facilities are broadly consistent with margins on its existing senior debt facilities of similar tenor.Proceeds from the new facilities will be used for capital expenditure requirements associated with recent customer contract wins, ongoing data center developments, and for general corporate purposes.

ASX:NXT
Asia

Southern Cross Electrical Raises Fiscal 2026 EBITDA Outlook; Secures AU$150 Million of Work Awards; Launches Capital Raising Initiatives

Southern Cross Electrical Engineering (ASX:SXE) said it is raising its profitability outlook for fiscal 2026 after securing more than AU$150 million of new work awards, according to a Monday filing with the Australian bourse.The awards include one for its Heyday subsidiary for initial electrical and communications works on the first stage of Nextdc's (ASX:NXT) S4 Data Centre at Horsley Park, New South Wales, as well as one for its Trivantage Manufacturing unit to supply low voltage switchroom skids for a facility in Western Sydney.Lastly, the company's SCEE Electrical subsidiary secured a master construction agreement for electrical, instrumentation and controls works from Rio Tinto (ASX:RIO).Southern Cross now expects underlying fiscal 2026 earnings before interest, taxes, depreciation, and amortization (EBITDA) of at least AU$75 million, up from previous guidance of at least AU$72 million.The company also issued fiscal 2027 EBITDA guidance of at least AU$100 million, representing a 33% increase on the outlook for the current fiscal year.Additionally, Southern Cross is launching a AU$150 million fully underwritten institutional placement at an indicative range of AU$3.85 to AU$4 per share, as well as a AU$15 million non-underwritten share purchase plan. The company is also increasing an existing bank guarantee facility to AU$100 million from AU$75 million, adding a new revolving credit facility of AU$50 million to fund working capital needs, and signed a new AU$50 million facility to fund future acquisitions.Following the completion of these capital initiatives, the company expects to have pro forma liquidity of about AU$308.8 million, it said.Southern Cross also appointed Peter Bierton to the newly created role of chief operating officer, effective Aug. 24. Bierton most recently served as the CEO of Mainmark, a ground engineering and asset preservation company.Trading in the company's shares was halted.Nextdc's shares were up almost 4% in recent Monday trade, while Rio Tinto's shares gained roughly 2%.

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Asia

ASX Biggest Gainers

Here are the ASX-listed companies with the biggest gains on Friday.Alcoa Corp (ASX:AAI): +4%, AU$93.22South32 (ASX:S32): +4%, AU$4.29Capstone Copper (ASX:CSC): +3%, AU$13.81James Hardie Industries (ASX:JHX): +3%, AU$28.97Evolution Mining (ASX:EVN): +3%, AU$12.18Rio Tinto (ASX:RIO): +2%, AU$186.03NEXTDC (ASX:NXT): +2%, AU$14.91SGH (ASX:SGH): +2%, AU$41.81Lynas Rare Earths (ASX:LYC): +2%, AU$18.92Pilbara Minerals (ASX:PLS): +2%, AU$6.28

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Asia

Nextdc Completes AU$480 Million Retail Entitlement Offer

Nextdc (ASX:NXT) successfully closed the retail component of its fully underwritten 1-for-5.4 accelerated non-renounceable entitlement offer, raising around AU$480 million at AU$12.70 per new share, as part of a broader AU$1.5 billion capital raising, according to a Thursday filing with the Australian bourse.The retail offer saw strong participation from eligible shareholders, with valid applications totaling about AU$407 million, representing an around 85% take-up rate, per the filing.The remaining around 5.7 million shares worth about AU$73 million that were not taken up by eligible or ineligible retail shareholders will be allocated to sub-underwriters, the filing added.The company's shares shed about 1% in recent Thursday trade.

ASX:NXT
Asia

Nextdc Contracted EBITDA Expected to Exceed AU$1 Billion, RBC Capital Markets Says

Nextdc's (ASX:NXT) contracted earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected to exceed AU$1 billion as the forward order book converts to billing utilization progressively through fiscal 2030, RBC Capital Markets said in a note on Monday.The company's pro forma contracted utilization as of March 31 came in at 667 megawatts, rising by around 250 megawatts since Dec. 31, 2025, while the forward order book increased by 247 megawatts to 544 megawatts.Nextdc's recent capital raising removes near-term funding risk, with pro forma liquidity increasing materially.RBC forecast fiscal 2026 revenue of AU$485 million and underlying EBITDA of AU$233 million, as well as fiscal 2027 revenue of AU$761 million and underlying EBITDA of AU$365 million.The investment firm reiterated an outperform rating on Nextdc with a price target of AU$22.Nextdc's shares fell nearly 3% in recent Tuesday trade.

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