Brookfield has selected KB Kookmin Bank to lead a KRW10.7tn ($8bn) syndicated loan to finance AI computing infrastructure for Naver, in what would be South Korea’s largest syndicated loan, according to a report by Bloomberg.
The financing will support a KRW12.6tn project involving the purchase of graphics processing units and other computing infrastructure through a Brookfield-established special purpose company. The equipment will be leased to Naver Cloud under a long-term agreement.
The loan could carry an interest rate in the high 5% range, although discussions remain ongoing and terms could change. Shinhan Bank, Woori Bank and Hana Bank have confirmed their participation, while NH Investment & Securities is also considering joining the transaction.
The deal marks South Korea’s first sizeable GPU financing, as banks and private credit managers expand their exposure to the hardware supporting AI infrastructure.
