Latest news with #TanChorSen
Business Times
2 days ago
- Business
- Business Times
DayOne raises RM15 billion in green financing to develop Johor data centres
[KUALA LUMPUR] Singapore-based DayOne Data Centers has secured RM15 billion (S$4.6 billion) in dual-tranche green financing to support capital expenditure to develop its Johor data centres, setting a record for sustainable data centre funding in Malaysia. OCBC, in a statement on Wednesday (Jun 11), said the financing facility comprises a RM7.5 billion Murabahah term financing facility and a US$1.7 billion offshore term loan. (Murabahah term financing is a method of financing following Islamic finance principles, in which a bank or financial institution sells an asset to a customer at a cost-plus-profit price, rather than charging interest.) Structured under Green Loan Principles, the proceeds will be used for refinancing and capital expenditure for DayOne's data centres that meet or are expected to meet LEED 'Gold' certification or higher, in line with the United States Green Building Council's standards. (LEED is Leadership in Energy and Environmental Design.) The deal drew strong interest from among local and international banks, achieving an oversubscription of two times, said OCBC. OCBC Bank (Malaysia) and its parent, the Singapore-based Oversea-Chinese Banking Corporation, acted as joint coordinator, mandated lead arranger and bookrunner (MLAB), as well as green financing coordinator; OCBC Bank was also the joint syariah adviser. Tan Chor Sen, chief executive officer at OCBC Bank, said: 'As a key MLAB, we supported DayOne with one of the highest underwriting commitments, reflecting our commitment to fostering a sustainable future that aligns with our leadership in responsible finance.' OCBC's senior banker and head of investment banking, Tan Ai Chin, said the innovative 'double-green' structure – merging Islamic and ESG financing – sets a new benchmark for the market. 'We remain dedicated to delivering tailored ESG financing solutions to support sustainable digital infrastructure ecosystems,' she said. Other participating MLABs were CIMB Investment Bank, CIMB Bank Singapore, Crédit Agricole Corporate & Investment Bank, DBS Bank, Maybank Investment Bank, Standard Chartered Bank Singapore, United Overseas Bank and UOB Malaysia. Headquartered in Singapore, DayOne is a fast-growing global digital-infrastructure platform with operations across Tier-1 and emerging markets, including Malaysia, Indonesia, Thailand, Japan and Hong Kong.
The Star
2 days ago
- Business
- The Star
DayOne secures RM15bil landmark deal for sustainable data centres
OCBC Bank (Malaysia) Bhd chief executive officer Tan Chor Sen KUALA LUMPUR: DayOne Data Centers has closed a landmark RM15bil equivalent multicurrency financing, comprising a RM7.5bil Murabahah Term Financing facility and a US$1.7bil offshore term loan facility. OCBC Bank (M) Bhd and its parent, Singapore-based Oversea-Chinese Banking Corporation Limited, acted as joint coordinator, mandated lead arranger, bookrunner, and green financing coordinator (MLAB), with OCBC Bank also serving as joint Shariah adviser. The financial close was commemorated at a signing ceremony held today. In a statement, OCBC Bank said the dual-tranche financing—structured under the Green Loan Principles—will partially fund the refinancing and capital expenditure of DayOne's data centres in Johor, which meet or are expected to meet LEED 'Gold' or higher certification by the U.S. Green Building Council, setting a new benchmark for sustainable digital infrastructure. Headquartered in Singapore, DayOne is a global leader in digital infrastructure, with a growing footprint across tier-one and emerging markets, including Singapore, Johor (Malaysia), Batam (Indonesia), Greater Bangkok, Hong Kong, Tokyo, and beyond. OCBC Bank Chief Executive Officer Tan Chor Sen said that, as one of the largest integrated financial services groups in the region, OCBC's regional strength enables it to support both the onshore and offshore tranches of this landmark syndication. 'As a key MLAB, we supported DayOne with one of the highest underwriting commitments, reflecting our commitment to fostering a sustainable future that aligns with our leadership in responsible finance.' Meanwhile, OCBC Bank managing director, senior banker and head of investment banking Tan Ai Chin said: 'OCBC Bank is honoured to have acted as MLAB for this landmark financing, underscoring our dominance as the top lead arranger in the syndicated loan market. The 'double-green' structure—merging Islamic and sustainable finance, coupled with the green feature of the facility—drew overwhelming demand, with oversubscription of two times by local and international banks.' 'We have been a leader in digital infrastructure financing regionally and remain dedicated to delivering tailored ESG financing solutions to drive sustainable digital infrastructure ecosystems forward,' she said. The financing also involved CIMB Investment Bank Bhd, CIMB Bank Bhd (Singapore Branch), Crédit Agricole CIB, DBS Bank Ltd, Maybank Investment Bank Bhd, Standard Chartered Bank (Singapore), United Overseas Bank Limited, and UOB (M) Bhd as MLABs.
