Wai Mei Hong, senior country officer and head of corporate banking for J.P. Morgan Singapore, adds: “The financing of CLINT’s data centre in Navi Mumbai reinforces our commitment to support the long-term growth strategies of our clients. CLINT’s project also helps to pivot the transformation of the digital economy in India.”
CapitaLand India Trust (CLINT) has secured a five-year construction loan of INR13 billion ($214 million) from J.P. Morgan India to finance phase one development of its data centre in Navi Mumbai.
Securing this onshore loan in India reflects CLINT’s “disciplined capital management” through a diversification of its funding sources, while optimising the trust’s funding costs, says Sanjeev Dasgupta, CEO of the manager.
