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NextDC Remedy APDC Loan Breach

NEXTDC Limited has provided APDC Group with an arm’s length, unsecured $29 million short term bridging loan facility to be used to repay the principal outstanding under Bankwest’s existing senior debt facility, which is currently subject to a notice of subsisting default and forbearance, following a technical trigger caused by the change of control of AJD.

NEXTDC currently has a relevant interest in 98.6% of AJD securities. NEXTDC’s takeover bid for AJD concludes on 26 November 2018, with any remaining shareholders compulsorily acquired.