Singapore-headquartered data centre operator DayOne has secured an additional RM15 billion, approximately US$3.7 billion, to expand its facilities in Johor, Malaysia, doubling the financing arranged for its Johor platform to RM30 billion. The transaction adds substantial funding to the company’s Malaysian operations as it advances plans for a US public listing.
Announced on October 13, the financing brings together seven lenders: CIMB, Crédit Agricole Corporate and Investment Bank, DBS, Maybank, OCBC, Standard Chartered and UOB. The banks are acting as mandated lead arrangers, bookrunners and joint coordinators, according to their joint statement.
The latest package comprises a US$2.4 billion offshore term loan and a RM5.5 billion Murabahah facility. Murabahah is an Islamic financing structure in which a bank purchases an asset and sells it to the customer at an agreed markup. The new facilities build on RM15 billion in multi-currency financing secured in 2025 to support DayOne’s Johor data centre development.
CIMB said it is the largest financier across the combined RM30 billion arrangements. Maybank, meanwhile, is the largest provider of ringgit-denominated Islamic financing commitments to DayOne. The transaction extends both banks’ involvement in funding the operator’s Malaysian expansion.
Malaysia’s projected capacity growth provides a broader backdrop to the deal. Jasmine Zhang, Crédit Agricole CIB’s head of telecom finance for Asia-Pacific, said the country’s data centre capacity is projected to grow at a compound annual rate of nearly 39% from 2023, reaching between 4.2 gigawatts and 6.1 gigawatts by 2030. Those figures are forecasts rather than installed capacity today.
The financing also comes shortly after DayOne announced on October 6 that it had filed for an initial public offering on Nasdaq. Separately, The Edge Malaysia cited a Reuters report that the company was in preliminary discussions with banks over a possible US$500 million bond offering. That potential issuance remains a financing proposal, distinct from the newly announced Johor facilities.
For DayOne, the immediate significance is the enlarged funding base available for continued development in Johor. The latest arrangement matches the size of its 2025 financing, bringing another seven-bank commitment to a platform that remains central to the company’s expansion in Malaysia.
