Tag: Unit

Maaden Phosphate Unit Signs $4.1 Billion Finance Deal

(Bloomberg) —

Saudi Arabian Mining Co.’s phosphate unit signed an accord with a group of lenders to refinance and reschedule $4.1 billion in debt as it seeks to trim interest costs amid a collapse in commodity prices.

Maaden Waad Al Shamal Phosphate Co. will refinance $2.3 billion owed to a syndicate of commercial banks and financial institutions, according to a statement. It will also reschedule $1.8 billion of debt owed to Saudi Arabia’s Public Investment Fund and transfer it to the Public Pension Agency.

The refinancing allows the phosphate business to reduce interest expense and pushes back the start of

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Digital Realty Banks on Singapore Tech Boom, Powers On New Unit

Digital Realty Trust, Inc. DLR recently “powered on” its third data center — Digital Loyang II (SIN12) — in Singapore. The move comes as part of the company’s expansion strategy to capitalize on the country’s digital economy, rapidly-growing FinTech industry, and aid in the operation of crucial industries.

The new, 50-megawatt SIN12 facility offers a total footprint of 34,000 square meters. It provides scope for global enterprise customers to grow their core digital assets on PlatformDIGITAL™ in the Singapore market. This facility is located neighboring to Digital Loyang I, or SIN11, with diverse high-count fiber routes connecting both data centers.

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