AirTrunk backing to see ‘major’ Australian data centre expansion
Norton Rose Fulbright has advised AirTrunk on a multimillion-dollar financing process to fund what’s being dubbed a major expansion of its Australian data centres.
Firm: Norton Rose Fulbright (AirTrunk)
Deal: AirTrunk has received financing to fund an expansion of its Aussie data centres in Sydney and Melbourne and across other key Asia-Pacific markets.
Value: $850 million
Key players: The Norton Rose Fulbright team was led by partners Chris Patten and Shane Bilardi, with assistance from senior associates Grant Schulz, Sarah Wilson and Louise Kelly, associate Marco Lagos, lawyer Felicity Young and special counsel Ka-Chi Cheung.
Deal significance: According to a statement from Norton Rose Fulbright, this financing marks the largest by a data centre company in Australia to date. Grant Samuel acted as the financial adviser to AirTrunk while Deutsche Bank was listed as the lead arranger, underwriter and sole bookrunner for the new senior secured debt facilities.
“We are delighted to have advised AirTrunk on this landmark financing and it was a pleasure working with the AirTrunk management team and Grant Samuel. This deal is a terrific example of the benefits of a competitive financing process and the flexible and scalable debt package is the latest example of product innovation in the Australian debt markets, drawing on traditional project finance and leveraged finance methodologies and bespoke features coming to market through the growth of unitranche and institutional lending in the region,” said MrPatten.
“We are thrilled to have contributed our cross-product and cross-border expertise to this transaction. We also congratulate Deutsche Bank and its counsel, Gilbert+Tobin on this outstanding result.”
Mr Bilardi added: “We are proud to continue to support AirTrunk with this latest, crucial step in its phenomenal growth trajectory in Australia and the Asia-Pacific region”.
“This financing positions AirTrunk well as it continues to pursue its ambition to be the leader in hyperscale data centres for the region. This is also further evidence of our commitment to supporting emerging Australian technology companies,” he said.