Malayan Banking Berhad and OCBC Bank (Malaysia) Berhad have announced that they are the joint-mandated lead arrangers for an RM1.10 billion Islamic term financing facility granted to YTL DC South Sdn Bhd (YTL DC), a wholly owned subsidiary of YTL Power International Berhad (YTL Power).
The facility was to fund the development of the 48MW IT Load Hyperscale Data Center (HDC) located at Kulai, Johor with a commitment to secure Gold LEED certification which shall be in compliance with Green Loan Principles published by Loan Market Association, Asia Pacific Loan Market Association and Loan Syndications and Trading Association. The Islamic syndicated term financing facility is based on the Shariah principles of Commodity Murabahah.
The 48MW HDC is part of YTL Power’s plans to develop Malaysia’s first 500MW green data centre park in Kulai, Johor to be integrated with on-site solar photovoltaic power which aims to provide data storage colocation services to clients looking for more sustainable and lower carbon solutions within Southeast Asia (Green Data Center Park). region.
“As one of the key relationship banks to YTL, we are pleased to extend our banking support towards YTL’s first green financing facility”. – Dato’ Muzaffar Hisham, Group Chief Executive Officer, Global Banking, Maybank
YTL DC announced their DC investment in Johor back in April 2022. Shortly after this announcement, China’s GDS Holdings Limited (“GDS”), a leading developer and operator of data centres in China, signed a partnership agreement with YTL DC to co-develop 168MW of data centre capacity, across 8 individual data centre facilities.
In August 2022, YTL DC and Sea Ltd. marked a milestone with a ground breaking ceremony for the development of the Sea Data Center, the first phase of the 500MW YTL Green Data Center Park.
“We are pleased to have the honour of working with YTL, a leading international conglomerate, in structuring and lead arranging its first green financing which signifies YTL’s commitment to a sustainable circular ecosystem” – Ms Tan Ai Chin, Managing Director, Senior Banker and Head of Investment Banking, OCBC Bank (Malaysia) Berhad
