Malaysia-based largest banking group Maybank is underwriting MYR 2.5 billion ($590 million), which is one third and the largest share of the biggest syndicated Islamic financing for data centers in Asia Pacific, to support DayOne Data Centers green data centers in the Johor-Singapore Special Economic Zone (JS-SEZ).

Maybank said in a statement that this onshore Ringgit Islamic tranche amounting to MYR 7.5 billion ($1.77 billion), and an equivalent USD- denominated offshore conventional tranche, form a five-year, dual-currency green financing package totaling MYR 15 billion ($3.54 billion).

The borrower, WG Data Hub Sdn Bhd, a wholly owned subsidiary of DayOne, shall use the proceeds to develop data centers of Leadership in Energy and Environmental Design (LEED) Gold- certified and above. LEED is an internationally recognized and globally utilized green building certification system.

A consortium of local and international banks are involved with Maybank playing a key role as Joint Shariah Adviser, Joint Coordinator, Mandated Lead Arranger and Bookrunner, Joint Hedge Coordinator, and Joint Green Financing and Loan Coordinator.

​Headquartered in Singapore, DayOne is a global firm in digital infrastructure platforms with a growing presence across both tier-one and emerging markets including Singapore, Johor (Malaysia), Batam (Indonesia), Greater Bangkok, Hong Kong, and Tokyo.

Its anchor data center campuses will be located in Nusajaya and Kempas Tech Parks, both within the JS-SEZ, and is expected to comprise a commanding share of its planned capacity across ASEAN and Japan.

“This landmark transaction represents Maybank’s largest Islamic financing commitment to the data center sector,

“It highlights our unique position and global leadership in structuring and promoting Islamic and green finance,” said Khairussaleh Ramli, president and group chief executive officer of Maybank.

“As the only homegrown ASEAN bank with a presence in all ten key markets, Maybank’s regional footprint and insights give us a distinct edge in supporting clients entering the JS-SEZ,

“This is backed by establishing a dedicated JS-SEZ Desk, and commitment to position the zone as a vibrant regional hub,” he added.

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