Maybank underwrites RM2.5bil of Asia Pacific's largest Islamic syndicated financing for data centres
KUALA LUMPUR: Malayan Banking Bhd (Maybank) is underwriting RM2.5 billion of multi-billion ringgit data centre projects in Johor by a Singaporean firm.
The RM2.5 billion represents one-third and the largest share of Asia Pacific's biggest syndicated Islamic financing deal for data centres.
In a statement, Maybank said it is supporting DayOne Data Centers Singapore Pte Ltd's green data centre projects in the Johor-Singapore Special Economic Zone (JS-SEZ).
The overall financing involves an onshore ringgit Islamic tranche of RM7.5 billion, complemented by an equivalent US dollar-denominated offshore conventional tranche.
Together, the five-year, dual-currency green financing package totals RM15 billion.
The funds will be channelled to WG Data Hub Sdn Bhd, a wholly-owned subsidiary of DayOne, which is developing 'Leadership in Energy and Environmental Design (LEED) Gold-certified' data centres.
LEED is a globally recognised green building certification system that promotes sustainable and environmentally friendly development practices.
A consortium of local and international banks is participating in the financing, with Maybank taking on multiple key roles including joint shariah adviser, joint coordinator, mandated lead arranger and bookrunner, joint hedge coordinator and joint green financing and loan coordinator.
President and group chief executive officer Datuk Khairussaleh Ramli said the landmark transaction represents Maybank's largest Islamic financing commitment to the data centre sector.
He added that this highlights the bank's unique position and global leadership in structuring and promoting Islamic and green finance.
"As the only homegrown Asean bank with a presence in all 10 key markets, Maybank's regional footprint and insights give us a distinct edge in supporting clients entering the JS-SEZ.
"This is backed by establishing a dedicated JS-SEZ desk, and commitment to position the zone as a vibrant regional hub," he said.
Headquartered in Singapore, DayOne is a global pioneer in digital infrastructure platforms with a growing presence across both tier-one and emerging markets including Singapore, Johor (Malaysia), Batam (Indonesia), Bangkok, Hong Kong, and Tokyo.
Its anchor data centre campuses will be located in Nusajaya and Kempas Tech Parks, both within the JS-SEZ, and is expected to comprise a commanding share of its planned capacity across Asean and Japan.
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