Yondr Group, a global developer, owner, and operator of hyperscale data centres, has raised a total of $900 million in commitments for its hyperscale data-centre campus in Malaysia.
The commitments include the second tranche of financing of $100 million from World Bank Group member International Finance Corporation (IFC) and investments from a consortium of six international finance institutions.
The consortium includes DBS, Deutsche Bank, Global Infrastructure Partners (a part of Blackrock), HSBC, ING, and Natixis CIB, per the announcement.
IFC’s financing was part of the $150 million package announced in May for Yondr’s Malaysia project. The financing institution initially provided a $50 million bridge loan in May.
The funding will be used for the construction of Yondr’s hyperscale campus in Johor, Malaysia. Yondr’s Johor campus, located in Sedenak Tech Park, is expected to become the largest hyperscale data centre campus in Southeast Asia with 300MW+ IT load power capacity situated on 72.5 acres of land.
The campus aims to facilitate regional businesses’ access to the latest generation AI-cloud workloads, boosting productivity growth and enhancing the availability of digital services for individuals.
Johor is chosen due to its proximity to Singapore, offering important interconnectivity routes and scalable digital infrastructure.
The campus will also be certified by the Excellence in Design for Greater Efficiencies green building program, IFC’s green building certification system focused on making buildings more resource-efficient.
“Our Johor campus is a landmark development for Yondr and will become an important part of Asia’s infrastructure as demand for capacity continues to grow in the region, driven by the acceleration of artificial intelligence and digital services,” said Chester Reid, Chief Financial Officer at Yondr.
Earlier in March, Yondr powered up its 275kV high-voltage substation at the Johor campus, marking a major milestone since the company’s entry into Malaysia in March 2022.
Yondr is a wholly-owned subsidiary of Cathexis Holdings LP, a US-based family office with interests in construction, data centres, real estate, and energy. It constructs and operates large, built-to-suit hyperscale data centres.
In December 2023, DealStreetAsia reported that IFC has proposed an investment of up to $225 million in the company to finance its project in Malaysia. In addition to the $150-million debt, the investment also involves a proposed $75-million MCP loan that will be used to finance Phase 1 of a greenfield 96 MW DC in Sedenak Tech Park (STeP) in Johor Bahru, Malaysia.
