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Nextdc Ltd (ASX:NXT) wants to raise more cash for growth

Nextdc Ltd (ASX: NXT), the data centre operator, is looking to raise capital via an Australian dollar denominated corporate bond issue and has engaged National Australia Bank Ltd. (ASX: NAB) to run the offer. That’s according to a report by the Australian Financial Review.

This follows a $281 million equity raising that the company announced in April with the intention of using the proceeds to purchase property sites for future data centre developments.

Details are yet to emerge of how the bond issue will be priced but I’m sure Nextdc will want to take advantage of the low interest rates to raise cheap funding.

Nextdc is looking to consolidate its market leading position and take advantage of growing demand for cloud computing.

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Motley Fool contributor Kevin Gandiya has no position in any of the stocks mentioned.

You can find Kevin on Twitter @KevinGandiya.

The Motley Fool Australia owns shares of National Australia Bank Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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