Macquarie refinances and upsizes debt capacity to $ 450m key commercial terms , including pricing . Other terms are customary for a loan facility of this nature .
China ’ s NICE and Dubai Future Foundation collaborate to drive innovation and tech advancements
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Macquarie refinances and upsizes debt capacity to $ 450m key commercial terms , including pricing . Other terms are customary for a loan facility of this nature .
In combination with cash and cash equivalents of $ 118m the Group has sufficient liquidity to complete the build of IC3 Super West Phase 1 with excess capacity to fund future growth .
Macquarie Technology Group has announced the successful signing of a debt refinancing to support ongoing data centre expansion .
Under the new syndicated facility agreement , the Group has access to a five-year secured revolving loan facility in the amount of A $ 450m , representing an increase of A $ 260m to the previous facility .
Due to strong appetite from domestic and international lending institutions , the new facility has been secured on highly competitive
Macquarie Technology Group ’ s Chief Executive Officer and Co- Founder David Tudehope , said : “ Following the acquisition of the Macquarie Park Data Centre Campus and the commencement of the IC3 Super West construction , we have marked another milestone with this successful debt refinance process . The new facility will provide the capacity and flexibility to enable us to further invest and expand our data centre business .
“ We have been delighted by the outstanding interest received from domestic and international financial institutions in this process and are looking forward to building strong relationships with the new group of lenders .”
The refinancing is subject to the satisfaction of customary conditions precedent and is expected to achieve financial close before the end of this calendar year .
China ’ s NICE and Dubai Future Foundation collaborate to drive innovation and tech advancements
China ’ s National Innovation Center par Excellence ( NICE ) and
Dubai Future Foundation ( DFF ) have signed an MoU to explore areas of collaboration to drive tech adoption and innovation .
This strategic initiative aims to bolster Dubai ’ s global leadership in industrial innovation , attract investments and enhance private sector participation in research and development . It will provide essential research infrastructure for future industrial clusters , generating new growth opportunities in a knowledge-based , technology-driven economy and positioning Dubai as a leading epicenter for research , development , and innovation .
Under the MoU , the two parties will explore avenues for cooperation in knowledge transfer , attracting and empowering talent , retaining competencies , and facilitating mutual market access .
Dr . Qing Liu , Director of NICE , said : “ Dubai and the UAE are in a prime position to become a global hub for innovation , by partnering with Dubai Future Foundation , we can fully harness the research and development sector ’ s potential in Dubai , contributing to significant productivity growth and long-term positive economic transformation regionally and globally .”
Abdulaziz AlJaziri , Deputy CEO , DFF , said : “ Our collaboration with NICE marks a significant step in shaping the future of innovation . This program not only highlights our commitment to cultivating an ecosystem that empowers talent and drives research but also positions Dubai as a pivotal player on the global stage for research and development . By unlocking new streams for growth , we will redefine what ’ s possible in a rapidly evolving economy .”
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