STT GDC, a Singapore-based data center operator, is in talks with banks for a S$3.1 billion (US$2.42 billion) syndicated loan, according to people familiar with the matter.

Standard Chartered and DBS are among the banks arranging the proposed three-year facility, which could be extended by up to two years.

The proceeds would finance STT GDC assets following its acquisition in September by a consortium led by KKR and Singtel.

The borrowing adds to a broader wave of bank financing for AI-linked infrastructure in Asia, where rapid data center lending is hitting limits at some banks, according to Barclays.

It also comes as Singapore allocates limited new data center capacity through a capacity call, amid power and land constraints that have pushed some regional expansion to Malaysia.

🔗 Source: Bloomberg

Recent STT GDC developments