Singapore's PDG plans to raise US$1.2 billion for a Malaysia data center project.

Asian data center operator Princeton Digital Group is seeking a syndicated loan of up to $1.2 billion to fund a project in Malaysia, as the borrowing spree for AI infrastructure continues, according to people familiar with the matter. The three-year facility's mandated lead arrangers and bookrunners include HSBC Holdings' Singapore branch, Maybank Investment Bank, Oversea-Chinese Banking Corp., Standard Chartered, and United Overseas Bank, said the people, who asked not to be identified. The loan will be taken up by the group's subsidiary Princeton Digital Group Labuan Alpha Ltd., with proceeds to fund a 198.8-megawatt data center campus project in Johor, Malaysia, and to refinance existing debt, the people said.