BDx Data Centers has obtained a US$320 million loan from a consortium led by three Indonesian banks – Bank Permata, BCA and KB Bank – to finance ongoing developments at the company’s facilities in Indonesia.
Proceeds from the loan will fund the continued development of BDx’s AI-focused data center campus in Jakarta, which opened last September. This purpose-built facility is designed to support the advanced, power-intensive AI workloads that companies and hyperscalers are adopting. It is one of the first data center campuses in Indonesia to deploy liquid cooling technology.
In a statement on Wednesday, the Singapore-based data center operator also revealed that the loan would be used to expand the high-voltage grid capacity at its CGK4 campus in Jatiluhur and its CGK5 campus in Suryacipta to 1.2 GVA (Gigavolt-Ampere).
These three campuses are being developed to cater to the increasing demand from US and regional hyperscalers and AI customers.
According to BDx, Indonesia is one of the most dynamic digital growth markets in Southeast Asia, and “the company’s investments in energy-efficient facilities designed for long-term resilience and sustainable growth align with the region’s accelerating adoption of AI and the cloud.”
“This financing represents a strong vote of confidence in BDx’s vision and our role in enabling the next generation of digital and AI-driven growth in Asia,” said BDx CEO Mayank Srivastava.
“By investing in AI-optimized liquid-cooling infrastructure, high-voltage power platforms, and scalable campuses, we are developing the next generation of infrastructure for ‘AI factories’ with ultra-high-density GPU workloads,” he added.
Optimizing capital structure
Meanwhile, BDx stated that some of the loan proceeds will be used to refinance existing debt at more favorable rates.
The data center operator reportedly chose Indonesian banks over international banks for this latest credit facility because it was about optimizing the company’s capital structure.
The company prioritizes maintaining a natural hedge within its operations. Given that revenues and capital expenditures are denominated in rupiah, it made commercial sense to align debt obligations.
“This approach mitigates the risks associated with currency volatility and ensures that our growth remains insulated from external macroeconomic fluctuations,” Srivastava told The Business Times.
The report stated that BDx is currently examining prospects in four other markets in the Asia-Pacific region where it runs data centers, including Singapore, Hong Kong, and Taiwan.
“We anticipate finalizing our entry into two of these new countries within the next 12 to 18 months,” said Srivastava.