At a glance
- Fourteen banks acted as lead underwriters, including BNP Paribas, Deutsche Bank, ING, MUFG, National Australia Bank, Royal Bank of Canada, Santander and Société Générale.
- AirTrunk did not say which construction metric moves the margin on the green loan, leaving a material pricing term for lenders and investors to diligence.
- SYD3 sits on 8.3 hectares and could reach 400MW at full build-out across 42 data halls and 70,000 sqm (753,475 sq ft) of technical space.
AirTrunk has raised A$4.25 billion (US$3.0 billion) of green debt to fund the continued development of its SYD3 campus in Western Sydney, with a syndicate of 32 local and international financial institutions behind it.
Fourteen banks acted as lead underwriters, including BNP Paribas, Deutsche Bank, ING, MUFG, National Australia Bank, Royal Bank of Canada, Santander and Société Générale.
AirTrunk did not say which construction metric moves the margin on the green loan, leaving a material pricing term for lenders and investors to diligence. The facility is structured with margin adjustments, and AirTrunk said savings from those adjustments go to its social impact program, which funds local charities focused on STEM education, digital equity, biodiversity, conservation and disaster relief. Construction measures include lower-carbon steel and concrete and a target to divert at least 90% of non-hazardous construction waste from landfill.
SYD3 sits on 8.3 hectares and could reach 400MW at full build-out across 42 data halls and 70,000 sqm (753,475 sq ft) of technical space. Construction of the current expansion is underway and due to complete by mid-2028.
AirTrunk puts total committed debt financing at about A$38.4 billion (US$26.9 billion) globally, including more than A$19.8 billion (US$13 billion) across its Australian projects. The SYD3 facility is roughly a fifth of the Australian total.
Blackstone and Canada Pension Plan Investment Board bought AirTrunk for US$16.1 billion in 2024, a deal Data Center Dynamics called the largest in the sector at the time. AirTrunk operates or is developing campuses in Sydney, Melbourne, Singapore, Hong Kong, Johor, Tokyo and Osaka, and entered India this year by acquiring Lumina CloudInfra.
The SYD3 loan is a fifth of AirTrunk's Australian debt
Committed debt financing, A$ billion, at the loan's announcement
- Total committed debt38.4 A$B
- Australian projects19.8 A$B
- SYD3 green loan4.25 A$B
Show as table
| Item | Value (A$B) |
|---|---|
| Total committed debt | 38.4 A$B |
| Australian projects | 19.8 A$B |
| SYD3 green loan | 4.25 A$B |
Reported by the Data centers & fiber desk from Data Center Dynamics. Published . Corrections