BDx Data Centers has secured a loan to buy the freehold of its Singapore data center.
The company this week announced its Singapore loan market debut with a US$155 million facility from DBS Bank and OCBC.
The “vast majority” of the financing will be used to acquire the freehold of OneTen Paya Lebar, the site of BDx’s flagship SIN1 data center.
The remaining loan amount will be used for general corporate purposes and other regional plans, BDx said.
Mayank Srivastava, CEO of BDx, said the loan “empowers us to secure our long-term operations in Singapore and enhance our service offerings.”
He explained: “This financial milestone is a testament to our robust fiscal management and the trust placed in us by financial institutions. We are committed to leveraging this opportunity to drive innovation, support our customers’ growing needs, and contribute to the digital economy’s infrastructure.”
Reports surfaced last week that Hwa Hong Corp had sold the freehold at OneTen Paya Lebar, to BDx for S$140 million (US$104m).
The eight-story property is already home to BDx’s existing SIN1 Singapore data center. The company currently offers 9.6MW across 4,180 sqm (45,000 sq ft) at the site. Located at 110 Paya Lebar Road, the property has a gross floor area of 14,450 sqm (155,500 sq ft).
The facility was originally leased to former telecom services provider Pacnet - acquired by Australia’s Telstra in 2014. BDx took over the facility and existing lease from Telstra in 2020, with that deal in place through to 2028.
After interest from ‘several banks,’ DBS and OCBC signed BDx’s funding agreement last month to act as the mandated lead arrangers for this facility. The loan is on a five-year term with no amortization.
“We are thrilled to be a part of BDx’s journey in helping to shape Asia’s digital landscape, starting with their flagship SIN1 asset here in Singapore,” said Amit Sinha, managing director and group head of telecommunications, media and technology, institutional banking at DBS Bank.
Elaine Lam, head of global corporate banking at OCBC, added: “One of our key strategic priorities is to capture opportunities from the growth of new economy sectors such as cloud software and data center companies. Our participation in BDx’s debut Singapore loan facility underscores our belief in BDx’s potential to grow the data center sector and help support Singapore’s digital economy.”
Update: A separate announcement from BDx said owning the freehold of the facility will allow the company to redevelop the data center.
“The freehold acquisition of SIN1 is more than just an expansion of our physical footprint. It represents our long-term commitment to Singapore and the region,” said Mayank Srivastava, CEO of BDx. "Owning the SIN1 data center outright allows us greater flexibility to upgrade the facility further and implement the cutting-edge solutions our customers need.”
BDx said the site hosts more than 50 customers, including three hyperscale customers. The company has reduced the facility PUE to 1.35 through design upgrades and smart monitoring of energy use.
Ong Eng Yaw, Managing Director of Hwa Hong Corporation, added: " The site has been owned by the Hwa Hong Corporation Group for over 35 years. This transaction represents a natural culmination of our relationship with BDx, and we are pleased to see the site continue to add value to its new owners."
