Zankore syndicates $3.1 billion AI infrastructure loan in Asia
Amid continued financing for Asia's artificial intelligence buildout, Indonesian infrastructure platform Zankore is bringing a $3.1 billion loan to a wider group of lenders. The five-year facility is intended to fund graphics processing unit purchases for a new AI factory and reflects growing bank appetite for large-scale computing projects in the region.
Highlights
- Zankore is syndicating a $3.1 billion loan via a banking group after securing five original underwriters, including United Overseas Bank Ltd. and Citigroup Inc.
- The facility offers an interest margin of 330 basis points over the Secured Overnight Financing Rate, with additional banks invited to participate as underwriters or bookrunners.
- Proceeds finance GPU purchases for Zankore's new Nvidia-backed AI factory, reflecting surging demand for AI infrastructure buildouts across Asia.
Loan syndication and financing terms
As reported by Bloomberg, Zankore is syndicating the loan to the broader market through a group of banks after securing five original underwriters for the deal.The facility carries an interest margin of 330 basis points over the Secured Overnight Financing Rate, according to people familiar with the matter who were not authorized to speak publicly. United Overseas Bank Ltd. and Citigroup Inc. are among the original underwriters marketing the transaction, while other banks are being invited to join the senior phase as underwriters or bookrunners.
AI capacity expansion in Asia
The loan is being used to finance the purchase of graphics processing units for Zankore's new AI factory, linking the fundraising directly to computing capacity expansion rather than general corporate purposes.Zankore, which is backed by Nvidia Corp., is entering the market as regional demand for AI infrastructure continues to draw large pools of capital. The transaction adds to a broader wave of financing tied to Asia's AI buildout, as lenders and technology groups support new data-intensive projects across the region.
Our earlier analysis of the U.S. AI data center boom highlighted mounting pressure from higher financing costs, construction delays, and power constraints that are slowing real-world capacity buildouts. We also noted that only a minority of planned projects appeared truly credible, as cost overruns and weaker investor sentiment increased the risk that ambitious expansion plans may not be delivered on time or on budget.
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