[Funding] Daelim Secures 32.5 Billion KRW for Land Purchase of Gasan-dong Data Center

[Asia Economy Reporter Lim Jeongsu] Daelim has raised 32.5 billion KRW in funds to purchase the site of the group data center in Gasan-dong.

According to the investment banking (IB) industry on the 21st, Daelim secured a loan of 32.5 billion KRW with Mirae Asset Daewoo as the lead manager. The loan has a maturity of one year, with a lump-sum repayment at maturity, but early repayment is also possible.

Mirae Asset Daewoo executed the loan through a special purpose company (SPC), then issued short-term bonds backed by this loan as the underlying asset to raise the loan funds. If investors do not appear when the short-term bonds are refinanced every 1 to 2 months, Mirae Asset Daewoo has agreed to purchase them.

Credit rating agencies have rated Daelim’s long-term and short-term credit ratings as A+ (stable) and A2+, respectively. Therefore, the short-term bonds issued by the SPC through Mirae Asset Daewoo were also rated A2+.

Daelim will use the raised funds to purchase the data center site located at 459-2, Gasan-dong, Geumcheon-gu, Seoul. After completing the land purchase, it plans to start constructing the data center soon through project financing (PF).

It is known that Daelim plans to use the Gasan data center as the group’s data center once construction is completed.

This content was produced with the assistance of AI translation services.