Chindata, a Bain Capital-owned data centre operator, in talks for $2.8 billion loan for expansion
Chindata Group, a Bain Capital-owned data centre operator, is in discussions with undisclosed lenders for a potential $2.8bn loan, reported Bloomberg citing people familiar with the matter.
If secured, it would represent the company’s largest bank financing to date.
The loan is intended to refinance some of Chindata’s existing debts as well as to support its business expansion efforts in Malaysia.
According to the people, the discussions between the parties are ongoing and ‘details could change’.
Chindata’s move is partly driven by the need to accommodate the surging demand for services associated with AI.
In July 2024, Chindata secured $490m syndicated loan from undisclosed banks to support its plans to meet the computing and data storage needs in Asia.
The five-year borrowing attracted seven lenders in syndication and follows a series of AI sector-related financings from Asia in recent months.
Earlier in 2024, Chindata subsidiary Bridge Data Centres International (BDC) partnered with Singapore-based Red Dot Analytics (RDA) to use the latter’s digital twin AI technology to enhance data centre resilience, energy efficiency, and sustainability.
The agreement in in line with Bridge Data Centre’s efforts to expand operations in Singapore, Malaysia, and other countries.
Currently, Chindata operates hyperscale data centres in economic hubs across China, including the Greater Beijing area, the Yangtze River Delta near Shanghai, and the Greater Bay Area in the south.
“Chindata in talks for $2.8bn loan for expansion” was originally created and published by Verdict, a GlobalData owned brand.
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Chindata, a Bain Capital-owned data centre operator, in talks for $2.8 billion loan for expansion, source
