NewzThe artificial intelligence boom has fuelled a wave of multibillion-dollar data centre deals across the Asia Pacific. (Envato Elements pic)KUALA LUMPUR: Blackstone Inc.-owned data centre firm AirTrunk has secured a US$2.3 billion green loan from 30 lenders for a new facility in Malaysia, its largest financing so far for a single asset.The loan for its JHB2 hyperscale data centre in the southern state of Johor was led by 10 global coordinators including Credit Agricole CIB, DBS Bank Ltd., HSBC Holdings Plc, Sumitomo Mitsui Banking Corp. and United Overseas Bank Ltd., the company said in a statement on Wednesday.The artificial intelligence boom has fuelled a wave of multibillion-dollar data centre deals across the Asia Pacific, even as the broader regional syndicated loan market remains in its deepest slump in 16 years.But the rapid growth is also testing banks’ appetite for the sector, with some lenders taking steps to manage their exposure.
Credit Agricole is seeking to sell about HK$150 million (US$19 million) of a loan it and other banks provided to ESR Group after hitting its internal lending cap for data centres, according to people familiar with the matter.AirTrunk, which is also in talks with banks for a A$4.3 billion (US$3 billion) loan for a new data centre in Australia, has been working on asset-backed bonds to refinance existing bank loans. The company is said to be targeting an initial public offering of a Singapore real estate investment trust that could raise about US$1.5 billion.The loan is classified as green due to the facility’s energy and water efficiency performance, the company said. The data centre is targeting a power usage effectiveness ratio of 1.37, below the global average of about 1.5 to 1.6, and will employ advanced water-efficient cooling technology, according to the firm.The green loan will allow AirTrunk to generate margin savings which it said will support its social impact program in Malaysia.Meanwhile, Vantage Data Centers, backed by US alternative asset manager DigitalBridge Group Inc., is considering selling its assets in Malaysia, according to people with knowledge of the matter.The provider of hyperscale data centre campuses is working with a financial adviser on the planned divestment, said the people, asking not to be identified because the process is private.
A transaction could value the Vantage assets in the Southe…
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