STT GDC in talks for S$3.1 billion syndicated loan
The proposed borrowing would finance the data centre operator’s assets and have a three-year term, with an option to extend it by up to two years.
Singapore-based STT GDC is discussing a S$3.1 billion syndicated loan with banks to finance its assets, Bloomberg reported, citing people familiar with the private discussions.
The proposed facility would run for three years, with the option of extending it by up to two years. Its interest margin would be 165 basis points above the Singapore Overnight Rate Average, the people said.
Standard Chartered, United Overseas Bank, Oversea-Chinese Banking Corp and DBS Bank are among the lenders arranging the borrowing. Their roles include global coordinators, mandated lead arrangers and bookrunners, according to the people.
The financing discussions follow the September completion of STT GDC’s acquisition by a group led by KKR & Co and Singapore Telecommunications. The group had agreed to purchase the operator for S$6.6 billion. DBS, OCBC and UOB previously took part in a S$5 billion sustainability-linked loan supporting that purchase.
STT GDC, Standard Chartered, DBS, KKR and UOB declined to comment. Singtel and OCBC did not respond to requests for comment.
Founded in 2014, STT GDC operates data centres across 12 countries, according to its website.
