DayOne Data Centers Seeks $237 Million Loan for Hong Kong Expansion

DayOne Data Centers is seeking a HK$1.86 billion ($237 million) five-year loan from a consortium of Asian banks to refinance and expand its data center in Hong Kong. The consortium includes DBS Group Holdings Ltd., Oversea-Chinese Banking Corp., and United Overseas Bank Ltd.

This financing request is part of a larger capital strategy to increase global artificial intelligence capacity. The company recently secured a S$530 million loan for a facility in Singapore and attempted to double an existing loan to approximately $7 billion.

These efforts precede a planned initial public offering in the United States, which could raise around $5 billion as early as next quarter. Formerly known as GDS International, the company was established by GDS Holdings and has received backing from Coatue Management and the SoftBank Vision Fund.