(March 19): Bain Capital-owned data centre operator Bridge Data Centres has obtained a US$2.8 billion (RM12.43 billion) loan for its operations in Malaysia, according to people familiar with the matter, marking its largest bank financing deal ever.
 
Bridge Data is a unit of Wintrix, formerly known as Chindata Group Holdings Ltd, the Chinese data centre operator that Bain Capital took private in 2023 in a deal worth about US$3.2 billion. 

The loan carries a five-year tenure and is being syndicated to the broader market, said the people, who asked not to be identified discussing private matters. Proceeds of the facility will be used to refinance some existing facilities and fund expansion in Malaysia, the people added.

A spokesperson for Bain Capital declined to comment. 

The loan comes after competitor DayOne, formerly known as GDS International, launched a record US$3.4 billion-equivalent facility to the market also for its data centre operations in Malaysia. The deals highlight the vast financing needs for the sector as firms in the region look to meet the growing demand for services linked to artificial intelligence. 

The state of Johor, which borders Singapore, has been a major beneficiary of this boom. So far, Johor has about 30 projects completed or under construction, plus 20 more awaiting approvals. Companies investing include Microsoft Corp and ByteDance Ltd. 

Nine lenders have been appointed as mandated lead arrangers, underwriters and active bookrunners of the Bridge Data loan. 

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