Singapore-based GLP, a logistics, data center, renewable energy, and fund management company, has told some bondholders it plans to sell about US$2 billion of assets this year as it works toward an initial public offering.

The company is also in talks with Ares Management to sell a portion of its international data center assets.

GLP oversees about US$80 billion in assets under management and said last month it returned to profit in 2025, helped in part by its data center business.

The company has faced pressure in the bond market since credit news provider Octus reported in March that China’s financial regulator had informally advised insurers to limit transactions with GLP’s mainland China logistics and asset management units.

GLP disputed the report. Its dollar notes due in 2028 traded at about 88 cents on the dollar.

Ares and GLP have already done a deal. GLP agreed last year to sell GCP International to Ares for up to US$5.2 billion, and the latest talks are part of that agreement.

🔗 Source: Bloomberg

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