Asian data center operator Princeton Digital Group (PDG) has closed an additional $350 million in debt financing, expanding a $400m HoldCo loan secured in May 2025.

The operator said it is looking to raise up to $5 billion to fund new capacity for its current and future developments across the region.

The total HoldCo loan now amounts to $750m and has been converted into a sustainability-linked loan, with pricing aligned with operational and sustainability performance targets.

The financing will support the expansion of the operator’s hyperscale portfolio across seven markets in Asia, with total capacity exceeding 1.8GW.

Rangu Salgame, chairman, CEO, and co-founder of PDG, said: “Our business momentum and delivery excellence continue to strengthen confidence among our capital partners. The expansion of our HoldCo facility reflects continued support for our execution discipline and track record across markets.

“As we continue to secure large-scale capacity and win new business, we are building our capital structure in step. Converting the facility into a sustainability-linked structure further demonstrates our commitment to embedding sustainability metrics into our capital framework.”

This latest round of financing is provided by a consortium of banks, including Barclays, BNP Paribas, Deutsche Bank, HSBC, SMBC, Société Générale, and Standard Chartered.

PDG, headquartered in Singapore, was founded in 2017. The operator has presence and operations in Singapore, Japan, India, Indonesia, China, Malaysia, and South Korea. It is also actively exploring development opportunities in Australia.