“I am pleased to announce that we have secured a strategic bank loan from DBS and OCBC that will empower us to secure our long-term operations in Singapore and enhance our service offerings,” said Mayank Srivastava, CEO of BDx.
“This financial milestone is a testament to our robust fiscal management and the trust placed in us by financial institutions. We are committed to leveraging this opportunity to drive innovation, support our customers’ growing needs, and contribute to the digital economy’s infrastructure.”
DBS and OCBC joined BDx’s funding agreement to act as the mandated lead arrangers for this facility. The loan is on a five-year term with no amortisation.
The financing enables BDx to optimise its capital structure and use its strong cash flows to reduce its cost of capital.
“We are thrilled to be a part of BDx's journey in helping to shape Asia's digital landscape, starting with their flagship SIN1 asset here in Singapore,” added Amit Sinha, managing director and group head of telecommunications, media & technology, institutional banking at DBS Bank.
“Our decision to partner with BDx is rooted in our confidence in their innovative approach and solid market position. We are excited to see how this strategic funding will propel BDx to new heights in the data centre industry, both in Singapore and across APAC."
The majority of the financing will be used to acquire the freehold of OneTen Paya Lebar, the site of BDx’s SIN1 data centre. The remaining loan will be used for general corporate purposes and other regional plans.
BDx’s strong financial position, marquee client portfolio, and support from BDx shareholder I Squared Capital were drivers for the financing to be offered on attractive terms.
"OCBC is proud to collaborate with BDx in their strategic expansion efforts. One of our key strategic priorities is to capture opportunities from the growth of new economy sectors such as cloud software and data centre companies,” said Elaine Lam, head of global corporate banking at OCBC.
“Our participation in BDx's debut Singapore loan facility underscores our belief in BDx's potential to grow the data centre sector and help support Singapore's digital economy. We are confident that this partnership will not only bolster BDx's capabilities but also contribute to the broader digital infrastructure development, which is vital in today's increasingly interconnected world."
