Bloomberg reports STT GDC is exploring a S$3.1b syndicated loan for its assets
Bloomberg says the proposed facility would run three years, with a two-year extension option
Bloomberg says the loan would carry 165 basis points over SORA
STT GDC said last month it secured a ¥93b green loan for its Tokyo data center campus
STT GDC announced in September that KKR and Singtel led its S$6.6b acquisition
STT GDC, a Singapore-based data center operator, is in talks with banks for a S$3.1 billion ($2.4 billion) syndicated loan to finance its assets amid growing demand for AI infrastructure, according to Bloomberg.
Bloomberg reported Monday, citing sources familiar with the matter, that SST GDC is exploring a three-year facility, arranged by Standard Chartered, UOB, OCBC, and DBS.
The borrowing would carry an interest margin of 165 basis points over the benchmark Singapore Overnight Rate Average, with an option to extend the facility by up to two years, the report said. Proceeds would be used to finance the company's assets, per the report.
The potential financing comes as STT GDC continues to expand its data center operations. Last month, the company announced that it has secured a 93 billion yen ($589.6 million) green loan facility to support the expansion of its Tokyo data center campus.
"The financing supports the continued development of STTGDC's Japan platform and strengthens its ability to serve customers expanding their cloud, AI and other mission-critical digital workloads in the market," the company said at the time.
Founded in 2014, STT GDC operates data centers across 12 countries including India, South Korea, Japan, Malaysia, the UK, Germany, and Italy, according to its website.
In September, the company announced that it was acquired by a consortium led by KKR and Singtel in a deal valued at S$6.6 billion ($5.2 billion).
The Latent has reached out to STT GDC for comment.
