Norton Rose Fulbright advises on financing of BDx Data Centers

Global law firm Norton Rose Fulbright has advised DBS Bank and OCBC on the combined US$155m loan to BDx Data Centers.

After the moratorium on data centers in Singapore was lifted, the growth and financing of such assets has taken on new impetus. The financing of BDx is evident of such a wave.

The facility provided by DBS and OCBC allows BDx to optimize its capital structure and leverage its strong cash flows to reduce its cost of capital. The main purpose of the financing was to acquire the freehold, OneTen Paya Lebar, the site of BDx’s flagship SIN1 data center. Having been tenants for so long it was only logical for BDx to take the next step in owning the site.

The team at Norton Rose Fulbright was led-by Yu-En Ong, partner and Head of Singapore at Norton Rose Fulbright, with the help of associates Kai Ye Ang and Yee Teng Cho, and advised the lenders on all financing aspects of the transaction. Rajah & Tann advised on Singapore real estate aspects.

Yu-En Ong commented:

“It was fantastic to work with DBS and OCBC to finance BDx, one of the fastest growing carrier-neutral data platforms in the Asia-Pacific region. Singapore is one of the leading data center markets in the world thanks to the continued investment and drive in cloud computing and generative AI and we are pleased to have played a part in bolstering the region’s data center offerings through this transaction.”

Norton Rose Fulbright’s global banking and finance team has one of the longest histories of any law firm in the field, advising major banks, finance providers, export credit agencies, corporate and sovereign entities and other participants in the global banking and finance arena.