Gilbert + Tobin is pleased to announce its role advising the Mandated Lead Arrangers, Underwriters and Bookrunners including Deutsche Bank, Credit Agricole, Morgan Stanley, HSBC, MUFG, ING and DBS and other lenders on the A$4.6 billion sustainability linked loan refinancing of AirTrunk’s existing debt facilities. The transaction is the largest loan deal in the Australian market in 2023 and the largest ever sustainability linked loan for a data centre operator globally.

AirTrunk is a leading provider of hyperscale data centres in the Asia-Pacific and Japan region. The transaction will support AirTrunk’s rapid expansion across the region. AirTrunk has now raised over A$6 billion in ESG financing, all of which G+T has been involved in, advising AirTrunk’s lenders.

The refinancing transaction was significant in terms of its scale and complexity involving 7 MLAUBs , across multiple markets. The G+T Team was responsible for all aspects of the transaction including taking the lead role in the structuring, documentation, execution and syndication of the Facilities.

The G+T team was led by Banking Partner, Stuart Cormack with support from Jack Naughton, Catrina Chen, Max Collins, Jonathan Mo, Zoe Spanos and Anany Verma.

Stuart commented “We are very proud to have supported our clients Deutsche Bank, Credit Agricole, Morgan Stanley, HSBC, MUFG, ING and DBS, and their borrower, AirTrunk on this refinancing. We have supported AirTrunk and their lenders in relation to every one of its debt issuances since 2018 and have always felt privileged to be associated with them, but this was a truly landmark transaction. We congratulate all involved and look forward to being a part of the next chapter in AirTrunk’s amazing story.”

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