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DXN LIMITED — Capital/Financing Update 2018
Sep 30, 2018
64806_rns_2018-09-30_4fce98c9-975b-4aa4-97ce-3a034e82f504.pdf
Capital/Financing Update
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ASX Announcement 1 October 2018
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ASX code: DXN
Data Exchange secures asset financing facility from ANZ
Data Exchange Network Limited (ASX: DXN) ( the Company ) is pleased to announce that it has secured a new $5 million revolving asset finance facility with ANZ Bank. This facility must specifically be used for financing the generators, chillers and battery/power supply equipment that are required to commission the Company’s Sydney and Melbourne colocation sites.
The new facility is secured against a $2 million cash deposit provided by the Company, the underlying assets purchased using the facility and a fixed and floating charge over the Company. The facility has ongoing review event requirements with standard financial covenants testing (gearing ratios).
Data Exchange CEO, Peter Christie said:
“ This new facility strengthens our balance sheet and demonstrates the appetite of Australian banks to support local data center businesses. The knowledge that new data center operations, such as ours, could secure debt from tier-1 banking institution adds flexibility going forward when determining funding sources. We are pleased to have ANZ’s support as we work towards completion of our first two datacentres .”
-ENDS-
For further information, please contact:
Peter Christie Pru Quinlan CEO Investor Relations Date Exchange Network Limited Einsteinz Communications T: (08) 9288 1870 T: (02) 8905 0995 E: [email protected] E: [email protected]
About Data Exchange
Data Exchange (DXN) designs, builds, owns and operates data centres. Offering integrated, customised and tailored solutions to clients, DXN provides businesses with the option of delivering solutions to site through containerised modules, or space in DXN’s modular colocation facilities to suit technical specifications and operational requirements. From a single rack in the colocation facilities through to fully customised Edge Infrastructure, DXN can deliver a range of solutions to meet modern data centre requirement.
To find out more about Data Exchange’s Modular Colocation facilities visit www.dataexchange.io