BDx secures USD $155m Singapore loan from DBS and OCBC

BDx Data Centers, the fastest-growing carrier-neutral data center platform in Asia-Pacific, has announced its Singapore loan market debut with a USD $155 million facility from DBS Bank and OCBC.

The financing allows BDx to optimize its capital structure and leverage its strong cash flows to reduce its cost of capital. The vast majority of the financing will be used to acquire the freehold of OneTen Paya Lebar, the site of BDx’s flagship SIN1 data center. Singapore is one of the leading data center markets globally and poised to benefit from the increasing demand for data centers driven by cloud computing and the rise of generative AI. The remaining loan amount will be used for general corporate purposes and other regional plans.

BDx’s strong financial position, marquee client portfolio, and support from BDx shareholder I Squared Capital were key factors for the financing to be done on very attractive terms. BDx is the dedicated regional data center platform for the digital infrastructure investor and has committed capital of over $2 billion.

“I am pleased to announce that we have secured a strategic bank loan from DBS and OCBC that will empower us to secure our long-term operations in Singapore and enhance our service offerings,” said Mayank Srivastava, CEO of BDx. “This financial milestone is a testament to our robust fiscal management and the trust placed in us by financial institutions. We are committed to leveraging this opportunity to drive innovation, support our customers’ growing needs, and contribute to the digital economy’s infrastructure.”

“We are thrilled to be a part of BDx’s journey in helping to shape Asia’s digital landscape, starting with their flagship SIN1 asset here in Singapore. Our decision to partner with BDx is rooted in our confidence in their innovative approach and solid market position. We are excited to see how this strategic funding will propel BDx to new heights in the data center industry, both in Singapore and across APAC,” shared Amit Sinha, Managing Director and Group Head of Telecommunications, Media & Technology, Institutional Banking at DBS Bank.

“OCBC is proud to collaborate with BDx in their strategic expansion efforts. One of our key strategic priorities is to capture opportunities from the growth of new economy sectors such as cloud software and data centre companies. Our participation in BDx’s debut Singapore loan facility underscores our belief in BDx’s potential to grow the data center sector and help support Singapore’s digital economy. We are confident that this partnership will not only bolster BDx’s capabilities but also contribute to the broader digital infrastructure development, which is vital in today’s increasingly interconnected world,” added Ms Elaine Lam, Head of Global Corporate Banking at OCBC.

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