Chinese data center developer and operator Shanghai DC-Science Co. is seeking a private debt of between $600 million and $700 million for a data center project in Johor, Malaysia.
First reported by Bloomberg, the private loan would fund project Brightray DC, which is scheduled to deliver its first phase in February next year.
The loan could take the form of a one-year construction financing, or a convertible loan, where the lender could become an equity investor.
Shanghai DC-Science declined to disclose financial details and further plans to the publication.
Last year, the operator was involved in a partnership with Malaysia-based real estate firm MN Holdings Bhd to build a facility in Johor.
Shanghai DC-Science was founded in 2013. It has two subsidiaries, Bluebodi and Qnet, which provide data center and Internet networking services respectively. Listed on its website, Shanghai DC-Science claims to have established facilities in Beijing, Shanghai, Yangzhou, and Shaoguan, but little other information is available online.
Another Chinese operator, GDS Holdings, was also seeking to raise around $2.3 billion in loans earlier this year for data center developments in Malaysia.
The Malaysian state of Johor is just across the border from Singapore and has benefitted from Singapore’s moratorium on data center developments. The state has grown a sizeable data center market with developers and operators including PDG, AirTrunk, Equinix, Keppel, ChinData's Bridge DC, and Yondr.
