(Bloomberg) — Digital Edge DC, an organization backed by non-public fairness fund Stonepeak Infrastructure Companions, has secured $1 billion in debt to fund its information heart enlargement throughout Asia, in line with an organization press launch on Monday.
Whereas the discharge didn’t give additional particulars, the debt contains two loans of roughly equal dimension to fund the enlargement of the agency’s information heart campuses in India and South Korea, in line with an individual acquainted with the matter, who requested to not be recognized because the matter is non-public. Each services carry tenors of between 5 to seven years, the particular person added.
About half the proceeds will fund Singapore-headquartered Digital Edge DC’s challenge at Navi Mumbai, within the western state of Maharashtra – its first such challenge in India, the particular person stated. The remaining quantity will finance its campus in Incheon, situated on the outskirts of Seoul, often known as SEL2, the particular person added.
A spokesperson for Stonepeak declined to touch upon the specifics of the financing.
Digital Edge DC’s loans are the newest examples of a growth in information heart financing, as firms in Asia Pacific look to satisfy the rising want for companies linked to synthetic intelligence.
Knowledge heart developer and operator Yondr Group in December launched a $835.5 million five-year facility, whereas Bain Capital-owned Chindata Group Holdings is in discussions with lenders for a possible mortgage of round $2.8 billion – in what could be its largest financial institution financing ever.
In its newest capital fundraising train, Digital Edge DC additionally raised some $640 million in fairness from each current and new buyers, the corporate stated within the press launch. Giant institutional gamers and sovereign wealth funds got here in as new co-investors, it added.
Established in 2020, Digital Edge DC operates 21 information facilities throughout India, Indonesia, Japan, Malaysia, the Philippines and South Korea, in line with the press release.
