Blackstone Inc. is in talks with a group of banks to lead an around A$4 billion ($2.6 billion) multi-currency loan for Australian data center operator AirTrunk Pte., according to people familiar with the matter.
December 05, 2024 at 1:55AM EST -- Blackstone Inc. is in talks with a group of banks to lead an around A$4 billion multi-currency loan for Australia n data center operator AirTrunk Pte., according to people familiar with the matter.
Proceeds raised would refinance some of AirTrunk’s existing debt and fund capital expenditure, the people said. It will carry a tenor of up to five years and include Hong Kong and Singapore dollar tranches, the people added. Banks are keen to fund the expansion of data centers in the region to meet the growing demand for services linked to artificial intelligence. Southeast Asia’s data consumption and computing growth will require investments of as much as $60 billion in infrastructure, which includes server centers, towers and fiber networks, according to a 2023 study from consulting firm Arthur D. Little.
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