Singapore's ST Telemedia Global Data Centres (STT GDC) has raised $338.14 million in sustainability-linked perpetual (SLP) securities.

Announced on January 8, the loan falls under the company's $1.13bn multicurrency debt issuance program.

The SLP is priced at 5.7 percent and will be used for "general corporate purposes" such as the refinancing of other borrowings, investments, acquisitions, and general capital expenditure of the company and its subsidiaries.

The loan is linked to certain sustainability commitments made by the company that were set out in its 2022 Sustainability-Linked Financing Framework. The company is aiming to be net carbon-neutral by 2030 through sustainability-linked financing and various performance targets, such as increasing its percentage of renewable energy consumption to 60 percent by 2026.

This SLP is hoped to enable STT GDC to increase its "geographical reach."

“The strong response from the investor community for our maiden perpetual securities issuance is a testament to our commitment to achieve our growth and expansion strategy while not compromising our sustainability goals,” said Nelson Lim, group CFO, STT GDC. “Our inaugural SLP issuance, leveraging on our Sustainability-Linked Financing Framework, attracted keen interest from investors, including top-tier institutional investors, seeing a book-building process that saw strong demand from top-tier institutional investors, reflected in the peak order book in excess of S$1 billion."

Details on the companies that contributed to the securities have not been shared. DCD has contacted STT GDC for more information. According to the company, this SLP is the first Singapore dollar-denominated SLP, the first public benchmark SLP in Asia, as well as the first public perpetual by a pure-play data center globally.

STT GDC has made recent investments in Indonesia, Thailand, the Philippines and Malaysia, and has an existing presence also in Singapore, the UK, Germany, India, South Korea, and Japan.