STT GDC seeks $2.4 billion loan for data center expansion

Nov 2, 2026

Singapore-based data center operator STT GDC Pte. is negotiating a S$3.1 billion ($2.4 billion) syndicated loan with major banks including Standard Chartered, UOB, OCBC, and DBS to fund its infrastructure expansion. The three-year borrowing facility, featuring a 165 basis point margin over SORA, comes amid a global AI borrowing boom that has surpassed $650 billion since early 2025. The deal follows KKR and Singtel's S$6.6 billion acquisition of STT GDC completed in September 2026, as Moody's projects global data center investments will top $3 trillion over the next five years.

STT GDC seeks syndicated loan

▪Singapore-based data center operator STT GDC Pte. is in talks with banks for a S$3.1 billion ($2.4 billion) syndicated loan, according to sources familiar with the matter
▪The three-year S$3.1 billion ($2.4 billion) syndicated loan for STT GDC Pte. pays an interest margin of 165 basis points over the benchmark Singapore Overnight Rate Average and includes an extension option of up to two years
▪Banks serving as global coordinators, mandated lead arrangers, and bookrunners on STT GDC Pte.'s planned S$3.1 billion ($2.4 billion) loan include Standard Chartered Plc, United Overseas Bank Ltd., Oversea-Chinese Banking Corp., and DBS Bank Ltd.

KKR consortium acquisition of STT GDC

▪A consortium led by KKR & Co. and Singapore Telecommunications Ltd. completed its acquisition of STT GDC Pte. in September 2026 after previously agreeing to buy the data center operator for S$6.6 billion
▪DBS Bank Ltd., Oversea-Chinese Banking Corp., and United Overseas Bank Ltd. previously participated in a S$5 billion sustainability-linked loan to finance KKR and Singtel's S$6.6 billion acquisition of STT GDC Pte

AI boom drives global borrowing

▪The surge in debt financing for artificial intelligence infrastructure has pushed up bond yields and increased investor scrutiny of valuations for AI-linked companies
▪The artificial intelligence boom has driven global AI-related corporate borrowing past $650 billion since the start of 2025, according to data compiled by Bloomberg