AirTrunk closed a record A$16B green refinancing, lifting its total financing platform to over A$18B. The deal will fund data centres in Australia, Hong Kong, Malaysia, and Singapore, with backing from more than 60 banks.
AirTrunk has closed a A$16 billion refinancing deal, the largest sustainability-linked financing ever completed in the Asia-Pacific and Japan data centre market. The funds will support both new and existing data centres in Australia, Hong Kong, Malaysia, and Singapore.
The move builds on AirTrunk’s earlier use of sustainability-linked loans. The company started with A$2.1 billion in 2021, later refinanced to A$4.6 billion in 2023. With this latest deal, AirTrunk’s total financing platform now exceeds A$18 billion, including projects in Japan, making it one of the largest issuers of sustainable debt in the global data centre sector.
Linking finance to sustainability goals
The refinancing is structured in four transactions tied to sustainability goals. Some are green loans, while others are sustainability-linked loans. Each includes key performance indicators like energy and water efficiency, renewable power use, and gender pay equity. AirTrunk has also set a target of reaching net-zero emissions by 2030.
Savings on loan margins will continue to flow into the company’s social impact fund, which supports programmes in areas like STEM education, digital access, conservation, and sustainable innovation. Disaster relief has also been added to the fund, making AirTrunk the first corporate borrower publicly known to embed this type of support into its financing structure, alongside wider initiatives that connect directly to the communities hosting its data centres.
In Singapore, a S$2.25 billion green loan will go toward building AirTrunk’s new Loyang facility, SGP2. It is the country’s largest-ever green loan for a data centre. In Melbourne, AirTrunk secured the region’s biggest green loan and became the first globally to link margin adjustments to a social impact program, a mechanism usually tied to sustainability-linked loans.
Industry context and recognition
AirTrunk founder and CEO Robin Khuda said: “Following AirTrunk’s A$24+ billion acquisition by Blackstone and CPPIB in 2024, we have expanded our debt financing platform to enable our rapid growth in the region. By linking all A$18 billion of our financing to sustainability, we demonstrate our long-term commitment to scale responsibly.”
Luke Stephens, AirTrunk’s vice president and treasurer, said: “The A$16+ billion equivalent refinancing is a major milestone in AirTrunk’s sustainable finance journey, driving both innovation and transparency. From leading the industry with the first SLL in 2021 to today’s landmark multi-transaction structure, we’ve consistently pushed boundaries to drive responsible growth and create meaningful social value.”
The refinancing follows AirTrunk’s earlier move to secure S$2.25 billion in green financing for its Singapore SGP2 hyperscale facility. It remains the largest loan of its kind in the country.
The company was also recently named Best Data Centre in Asia Pacific at the 2025 Datacloud Awards in Cannes, which recognised its rapid growth, A$24 billion transaction with Blackstone and CPPIB, and progress in sustainable digital infrastructure.
(Photo by Geoffrey Moffett)
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