This comes amid efforts to raise funds to expand its global footprint as demand for AI capacity surges
[HONG KONG] DayOne Data Centers is seeking a HK$1.86 billion (US$237 million) loan, according to people familiar with the matter, adding to the company’s recent borrowing spree ahead of a planned US initial public offering.
The Singapore-headquartered data centre operator is in talks with a consortium of Asian banks, including DBS, OCBC and UOB for the five-year facility, said the people, who asked not to be identified when discussing private matters.
Proceeds would be used for refinancing and capital expansion for the company’s Hong Kong data centre, the people said. The borrower is a special purpose vehicle, they added.
The loan talks are part of DayOne’s efforts to raise funds to expand its global footprint as demand for artificial intelligence capacity surges.
They also highlight the continued interest of banks in the region to finance such projects.
Earlier this month, DayOne obtained a four-year, S$530 million (US$417 million) loan from DBS, OCBC and UOB to develop its first Singapore-based data centre, according to a joint statement from the lenders.
It is also seeking to double the size of an existing loan to about US$7 billion, in a deal that would be the largest borrowing for the data centre sector by any firm in Asia.
The rush for financing comes as DayOne is considering raising around US$5 billion from a US IPO as soon as next quarter.
DayOne, UOB, OCBC and DBS declined to comment.
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Other data centre operators with facilities in the Asia-Pacific have also been raising funds to build up their facilities.
Thailand’s True Internet Data Center, for example, is seeking an about US$2 billion-equivalent loan for a project in the country, while Blue Owl Capital’s Stack Infrastructure is seeking an A$8.5 billion (US$5.9 billion) syndication loan to fund its latest facility in Melbourne.
Formerly known as GDS International, DayOne was set up by GDS Holdings to manage its data centre assets and operations outside mainland China.
It later brought in international investors, including SoftBank Vision Fund, Coatue Management and Ken Griffin among others. The firm rebranded as DayOne in 2025 and closed a US$4.5 billion Series C funding round in June.
The company lists seven data centre facilities as part of its planned or current operations in locations such as Singapore, Malaysia, Japan, Hong Kong and Finland, according to the company’s website. BLOOMBERG
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