Chinese Data Center Firm GDS Seeks Record $3.4 Billion Loan.
Chinese data center operator GDS Holdings Ltd. is seeking a $3.4 billion-equivalent loan for its data center operations in Malaysia. The borrowing would be its biggest ever loan. It would also be among the largest financings for the sector by any borrower in Asia.
The company’s international arm, DayOne, formerly known as GDS International, is aiming for a five-year facility, according to the people. It would comprise a $1.7 billion tranche and a 7.5 billion ringgit ($1.7 billion) piece, and is being syndicated to the broader market, said the people.
Malaysia is turning into a beneficiary of Asia’s growing need for data centers to support the boom in artificial intelligence. The southern state of Johor — which sits across from the city-state of Singapore — has about 30 projects completed or under construction, plus 20 more awaiting approvals. Companies investing have included Microsoft Corp. and ByteDance Ltd.
Source: FINANCE.YAHOO
