The Tech Capital reports that, according to a Bloomberg report, Stack Infrastructure is allegedly seeking a loan of around AU$1.3 billion in order to help meet the increasing demands of AI and cloud. The acceleration of AI is a major driver of requirements for new data centres for operators across the Asia Pacific and as the need scales up, so operators require more capital to build.
The five-year loan is expected to finance Stack’s development in Australia. It is being arranged and coordinated by major instituations such as Deutsche Bank, MUFG, Natixis, OCBC, and Société Générale,. According to sources cited by the report, the loan is now being offered to a wider group of lenders.
According to JLL, up to 80% of data center development funding is reliant on debt. Recent examples of this situation include Princeton Digital Group’s raising of US$400 through a private loan facility, DayOne’s search for a US$3.4 billion loan for data centre operations in Malaysia, and Singtel-owned data centre business Nxera’s securing of a US$475 million loan for the development of a new 58MW data centre in Singapore.
In April, the company submitted a request for Secretary’s Environmental Assessment Requirements (SEARs) to the New South Wales Department of Planning, Housing and Infrastructure: as reported here.
Covering around 82,000 sqm, the site would rank among Australia’s largest single-site data centre developments, positioning STACK alongside hyperscale incumbents such as AirTrunk and NextDC.
Stack Infrastructure was founded in 2019 by IPI Partners, now owned by Blue Owl Capital. The company came into the Asia Pacific region in 2021 and now has footprint in Australia, Japan, South Korea, and Malaysia, as well as a regional head office in Singapore. The company has already secured a gigawatt of capacity in the region that is either operational or in its pipeline.
