AirTrunk Seeks US$2.3B Loan for 200MW AI Data Center in Malaysia

According to Bloomberg, AirTrunk, a Sydney-based data center operator owned by Blackstone, is marketing a US$2.3 billion three-year loan to fund its 200-megawatt JHB2 facility in Johor, Malaysia. About a dozen lenders including DBS, Credit Agricole, ING, and UOB are arranging the syndicated loan, which carries pricing of 225 basis points over SOFR for offshore financing and 235 basis points for onshore, with two one-year extension options. The financing reflects broader momentum in AI-driven data center development across Southeast Asia, following similar megadeals by Digital Edge and B.Grimm Power (US$880 million for Thailand) and discussions by Bridge Data Centres and DayOne Data Centers for loans up to US$6 billion and US$7 billion respectively.