Zankore Syndicates $3.1 Billion Loan for AI Factory
Zankore is syndicating a $3.1 billion loan to purchase graphics processing units for a new artificial intelligence factory in Indonesia.
Zankore, an Indonesian artificial intelligence infrastructure platform, is syndicating a $3.1 billion loan to fund the purchase of graphics processing units for its new AI factory. The five-year loan carries an interest margin of 330 basis points over the Secured Overnight Financing Rate.
Backed by Nvidia Inc., the company is working with five original underwriters to market the deal, including United Overseas Bank Ltd. and Citigroup Inc. Other banks have been invited to participate as underwriters or bookrunners during the senior phase of the financing.
The investment is part of a wider trend of expanding artificial intelligence infrastructure across Asia.
