AirTrunk Secures A$4.25B Green Loan From 32 Lenders for Sydney SYD3
AirTrunk's A$4.25 billion green loan for its SYD3 campus in Western Sydney is backed by 32 lenders, with completion due by mid-2028. The company gave no loan tenor, pricing or megawatt figure.
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An illustration of AirTrunk's SYD3 campus in Western Sydney, from the company's site page. It is a rendering, not a photograph of the finished build.
Image: AirTrunk
Source · Press image from the AirTrunk website, used for news reporting.
AirTrunk, the Asia-Pacific and Middle East hyperscale data center specialist, has secured a A$4.25 billion (about US$2.99 billion) green loan to fund its SYD3 campus in Western Sydney, according to The Asset and ARN, which both reported the deal on Oct. 27.
A consortium of 32 local and international financial institutions backed the loan. AirTrunk said it is one of the largest lending groups assembled for a data center financing in Australia. Fourteen lead banks underwrote it, including National Australia Bank, MUFG Bank, BNP Paribas and Deutsche Bank, and Sumitomo Mitsui Banking Corporation, HSBC and United Overseas Bank acted as green loan coordinators.
For power and capacity planners, the loan matters because it funds a build that is already moving. Construction of the SYD3 expansion, led by A W Edwards, is underway and due for completion by mid-2028, AirTrunk said. The company has not published how many megawatts the expansion adds, so the loan cannot yet be turned into a capacity figure.
How the Loan Is Structured
The facility is a green loan with margin adjustments. Any contributions from the margin savings go to AirTrunk's social impact program for local charities working on STEM education, digital equity, biodiversity and conservation, sustainable innovation and disaster relief. ESG News noted that AirTrunk did not disclose the loan's tenor, pricing or SYD3's planned capacity.
AirTrunk said SYD3 will add infrastructure for cloud, artificial intelligence and other digital services, and expects the project to support more than 10,000 jobs across construction, trades, engineering, logistics and safety. Legal advisers were Mallesons for the borrowers and Gilbert & Tobin for the lenders.
Supply Chain and Debt Load
AirTrunk is using a 25,000 square metre buffer zone in Western Sydney to store, stage and pre-commission equipment for just-in-time deliveries, and it has invested in dedicated time-charter vessels serving Port Botany and Port Kembla. On site it is using lower-carbon steel and concrete and targets diverting at least 90 per cent of non-hazardous construction waste from landfill.
With the SYD3 loan, AirTrunk says its total committed debt financing reaches about A$38.4 billion, more than A$19.8 billion of it in Australia.
Illustration (AI-generated)
With this deal, AirTrunk's total committed debt financing reaches about A$38.4 billion globally, including more than A$19.8 billion in Australia, the company said. ESG News, citing AirTrunk, reported that its Australian platform spans five campuses with more than 1.2 GW of capacity, that it has invested over A$12 billion in the country and that it plans a further A$75 billion over the next decade. Voltgrid reported another large data center credit line on Oct. 22, when Nebius secured a $3.5 billion 364-day Citi facility for data centers and GPUs.
What Is Not Confirmed Yet
AirTrunk has not said how much power SYD3 will draw, how many data halls the expansion adds, which customers will take the space or how the campus connects to the grid. The loan tenor and pricing are also undisclosed. Those figures will show whether the A$4.25 billion covers the whole campus or only the current expansion phase.
