The capital raise was predominately for the land for the Gen 3 data centers.
They are testing the market to see if it is receptive towards Next DC's debt. Nothing may eventuate if the interest rates are high. Also corporate bonds are likely a way to get a funding instrument long term.
But the fact that they are exploring corporate bonds tells you they need more money and growth is picking up. I realise everyone isn't convinced on the growth but I personally am expecting it to pick up over the next 12+ months.
The capital raise was predominately for the land for the Gen 3...
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