Vantage Data Centers has announced that GIC, a leading global investor, and MEAG, the asset manager of Munich Re Group, will invest a combined €1.4 billion (US$1.5bn) into Vantage’s EMEA data center platform.
This transaction represents GIC’s first investment in the Vantage EMEA business and an expansion of MEAG’s investment in Vantage’s EMEA platform.
Vantage’s EMEA portfolio currently includes approximately 2.5GW of IT capacity that is operational or in development.
The transactions are expected to be finalized in the first quarter of 2025, subject to satisfaction of certain closing conditions, including the receipt of certain regulatory approvals.
Vantage has also successfully issued its inaugural bonds in the Asia-Pacific region through its wholly owned subsidiary, PowerDC.
The offerings include a five-year SGD 100m bond and a three-year HKD 300m bond – equivalent to approximately US$114 million combined.
The bonds are listed on the Singapore Exchange (SGX) and guaranteed by Credit Guarantee & Investment Facility (CGIF), a trust fund of the Asian Development Bank.
Proceeds from the bonds will be used to refinance PowerDC’s outstanding debt.
This strategic debut transaction aligns with Vantage’s commitment to pursuing innovative funding solutions, diversifying funding sources and effectively managing risks and returns.
“The bond issuances represent a first-of-its-kind on many fronts. This is only made possible due to the team’s relentless pursuit of innovative and trailblazing financing strategies,” said Joel Cheah, Chief Financial Officer, APAC for Vantage Data Centers.
