AirTrunk Secures Singapore’s Largest S$2.3 Billion Green Loan for Hyperscale Data Centre

AirTrunk, an Australian hyperscale data center operator owned by Blackstone, has secured a record-breaking green loan of approximately S$2.25 to S$2.3 billion (around US$1.75 billion) to develop its second hyperscale data center, AirTrunk SGP2, in Loyang, Singapore. This financing represents Singapore's largest-ever loan and green loan for a data center and marks a significant milestone in sustainable digital infrastructure financing in the region. The new facility will provide over 70 megawatts of cloud and artificial intelligence computing capacity and is designed to achieve a BCA Green Mark Platinum rating with a Power Usage Effectiveness (PUE) of 1.20, incorporating green concrete and steel to reduce embodied carbon. The loan begins as a green loan with the option to transition into a sustainability-linked loan, where financial incentives depend on meeting sustainability targets, and all financial benefits will support AirTrunk’s social impact fund. The financing structure was led by Crédit Agricole CIB, DBS Bank, and ING Bank as Global Coordinators and Sustainability Structuring Agents, alongside a consortium of 23 other financial institutions, with MUFG, Natixis, Standard Chartered, and UOB as mandated lead arrangers and bookrunners. This deal follows AirTrunk’s previous $4.6 billion debt arrangement linked to carbon, energy, and water usage, underscoring the company’s leadership in sustainable finance within the data center sector.