Asia-Pacific-focused hyperscale data centre firm AirTrunk has closed a A$16 billion ( US$10.38 billion ) refinancing, the region’s largest-ever sustainability-linked financing.

The multi-transaction financing, which was backed by a consortium of over 60 banks and financiers, covers key greenfield and operational assets across Australia, Hong Kong, Malaysia and Singapore.

The company first introduced a sustainability-linked loan ( SLL ) in 2021, amounting to A$2.1 billion, which was refinanced to A$4.6 billion in 2023. The recent A$16 billion financing takes the company’s total financing platform to over A$18 billion, including Japan, cementing, the company says, “its position as one of the largest issuers of sustainable finance in the global data centre industry”. 

The refinancing is comprised of four individual transactions, which are each sustainability linked, structured as either a green loan or SLL.

The company has established ambitious key performance indicators across energy and water efficiency, renewable energy adoption and gender pay equity, ensuring it takes accountability for accelerating its sustainability performance, including reaching net-zero emissions by 2030.

All margin incentives from the sustainability-linked financing will continue to be directed to the company’s social impact fund, which will increase in size and impact over the course of the loans.