STT GDC seeks $2.4 billion loan for data center growth

Business · First reported 2 Nov, 04:53 · Updated 05:37

Image: Wikimedia Commons · NASA Johnson Space Center · Public domain

Singapore-based STT GDC is seeking a SGD 3.1 billion loan, reported as about USD 2.4 billion, to support its data center growth. The proposed financing is described as a three-year facility, with Standard Chartered and DBS among the banks involved.

STT GDC is seeking SGD 3.1 billion (about USD 2.4 billion), reportedly to fund data center growth amid expected rising AI demand.
The proposed loan would run for three years; the report says it could be extended for two more years, while another account describes a proposed three-year facility.
Standard Chartered and DBS are named among the banks involved; one report also lists UOB and OCBC as having been approached.

Summary written by Lux AI from 2 articles

Key facts

Proposed amount: SGD 3.1 billion, approximately USD 2.4 billion
Proposed term: Three years, with an option to extend for two years
Banks named: Standard Chartered, DBS, UOB, and OCBC; Standard Chartered and DBS are described as among the arrangers
Reported interest rate: 165 basis points above the Singapore Overnight Rate Average
Data center footprint: Operations in 12 countries