Going big on GPUs
Five South Korean banks are obtaining internal approval to provide a $9bn-equivalent GPU-backed loan in Korean won to Brookfield and Naver, according to 9fin sources.
9fin sources added that the seven-year loan is offering an interest margin of 135bps over 91-day Certificate of Deposit (CD 91) benchmark interest rate, and an upfront fee of about 150bps.
South Korean web giant Naver will provide an offtaker guarantee to the loan.
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SEAsia focus
ZanKore launched a five-year $3.1bn senior secured loan into senior-phase syndication, according to 9fin sources. The facility agreement was signed on 7 September and senior MLABUs are conducting senior-phase syndication ahead of the general syndication launch.
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Cloud infrastructure providerGMI Cloud is in talks with lenders for a loan of $150m-$200m for the purchase of GPUs to be deployed in a facility in Thailand, according to 9fin sources.
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IPO pulled
After Firmus Technologies failed this week to pull off one of Australia’s biggest-ever IPOs, chatter in the nation’s private credit circles quickly turned to Blackstone.
The US private credit firm itself made history in the nation in February,...
