DayOne gets $4.6 billion funding for Johor data centres
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A DayOne data centre in Johor. The state has about 30 data centre projects completed or under construction, plus 20 more awaiting approvals.
PHOTO: DAYONE
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Kuala Lumpur – DayOne Data Centres Singapore has secured RM15 billion ($4.54 billion) of multi-currency financing to support its green data centres in the state of Johor, said OCBC.
OCBC and its Malaysian unit OCBC Bank (Malaysia) acted as joint coordinators for the syndicated financing, which comprises RM7.5 billion in Islamic financing and a US$1.7 billion (S$2.2 billion) offshore term-loan facility, the bank said.
The proceeds will be used for both refinancing and capital expenditure of DayOne’s data centres that are expected to obtain green digital infrastructure certification, it said.
DBS Group Holdings said it was also involved in the syndicated financing, along with UOB, CIMB Group Holdings, Malayan Banking, Credit Agricole Corporate and Investment Bank and Standard Chartered.
UOB said the financing was one of the largest in South-east Asia for data centres and the biggest green Islamic syndicated facility in Malaysia.
Maybank said it underwrote RM2.5 billion, or the biggest portion, of the Islamic financing tranche for DayOne.
DayOne’s anchor data centre campuses will be located at Nusajaya and Kempas Tech Parks in Johor, and will be part of investments in the Johor-Singapore Special Economic Zone, it added.
Malaysia is turning into a beneficiary of Asia’s growing need for data centres to support the boom in artificial intelligence.
Johor has about 30 projects completed or under construction, plus 20 more which are awaiting approvals.
Companies investing have included Microsoft and ByteDance.
Johor is expected to host 60 per cent of Malaysia’s total data centre capacity by 2030, Trade Minister Tengku Zafrul Aziz said in a speech at the signing ceremony for the syndicated financing.
DayOne, formerly the international arm of China’s GDS Holdings, is now an independent group after deconsolidation.
The facility, which is its biggest-ever loan, would be among the largest syndicated financings for the sector by a borrower in Asia, Bloomberg News reported.
Earlier in June, DBS and UOB jointly arranged a 6.7 trillion rupiah (S$530 million) loan to fund a data centre project in Indonesia that DayOne is helping to develop. BLOOMBERG
