$3.54 B for sustainable digital infrastructure secured by Singapore’s Dayone
The MYR 15 billion ($3.54 billion) multicurrency financing for sustainable digital infrastructure funding has been successfully closed by Singapore-based DayOne Data Centers.
The funding consists of a $1.7 billion offshore term loan facility and a MYR 7.5 billion Murabahah term financing facility, according to a statement released by OCBC on Wednesday.
A portion of the proceeds from the dual-tranche financing (onshore Islamic and offshore conventional) are used for refinancing and to support capital expenditures for DayOne’s data centers in Johor that meet or are anticipated to meet LEED “Gold” or higher certification (U.S. Green Building Council), establishing a new standard for environmentally friendly digital infrastructure. The financing is structured according to the principles of green loans.
In addition to serving as the Mandated Lead Arranger and Bookrunner and Green Financing Coordinator (MLAB), OCBC Bank (Malaysia) Berhad (OCBC Bank) and its parent company, Oversea-Chinese Banking Corporation Limited, based in Singapore, also served as the Joint Shariah Adviser.
DayOne, a global leader in digital infrastructure platforms with its headquarters located in Singapore, is becoming more and more visible in tier-one and emerging markets, such as Singapore, Johor, Malaysia, Batam, Indonesia, Greater Bangkok, Hong Kong, Tokyo, and more.
With the support of top institutional investors, DayOne provides scalable digital infrastructure by utilizing its in-house technology, global supply chain, extensive customer engagement and collaboration, and solid management experience.
“We are honored to partner with DayOne in fulfilling its aspirations and financing needs in Malaysia,
“As one of the largest integrated financial services groups in the region, OCBC’s regional strength enables us to support both the onshore and offshore tranches of this landmark syndication,” said Tan Chor Sen, Chief Executive Officer, OCBC Bank.
“As a key MLAB, we supported DayOne with one of the highest underwriting commitments, reflecting our commitment to fostering a sustainable future that aligns with our leadership in responsible finance,” he added.
OCBC Bank is proud to have served as MLAB for this historic financing, highlighting its supremacy as the leading lead arranger in the syndicated loan market, said Tan Ai Chin, Managing Director, Senior Banker, Coverage, and Head of Investment Banking.
“The ‘double-green’ structure—merging Islamic and sustainable finance coupled with the green feature of the facility—drew overwhelming demand, with oversubscription of two times by local and international banks,
“We have been a leader in digital infrastructure financing regionally and remain dedicated to delivering tailored ESG financing solutions to drive sustainable digital infrastructure ecosystems forward,” he added.
