Singapore-based data centre operator STT GDC Pte. is in talks for a S$3.1 billion ($2.4 billion) syndicated loan, Bloomberg reported on 2 November, citing people familiar with the private discussions. The proposed borrowing comes as companies building AI infrastructure seek debt financing, the publication reported.
Standard Chartered Plc, United Overseas Bank Ltd., Oversea-Chinese Banking Corp. and DBS Bank Ltd. are working on the planned loan as global coordinators, mandated lead arrangers and bookrunners, according to Bloomberg. The people who described the discussions asked not to be named because they were private.
Traders Union reported that STT GDC intends to use the financing to expand its data centres amid rising demand for AI infrastructure. A syndicated loan spreads the funding among multiple banks while giving the borrower access to a larger amount of capital, it reported.
