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AirTrunk has secured an A$4.25 billion green loan to fund continued development of its SYD3 campus in Western Sydney. Reuters put the facility at about US$2.98 billion. Thirty-two local and international
Featured: Exterior architectural render of AirTrunk's SYD3 hyperscale data center campus in Western Sydney. financial institutions backed the debt, which 14 lead banks underwrote.
AirTrunk develops and operates the campus. The lender group provides the financing, structured as a green loan with margin adjustments tied to its green status. Any savings from those margin adjustments will go to AirTrunk's social impact program, which funds local charities working in STEM education, digital equity, biodiversity and conservation, and disaster relief. AirTrunk did not disclose the loan's tenor, pricing or sustainability performance targets.
The financing covers the SYD3 site at Huntingwood, about 30 kilometres west of central Sydney. The campus adds capacity for cloud, artificial intelligence and enterprise services. AirTrunk said the project is expected to support more than 10,000 jobs across construction, trades, engineering, logistics and safety. To supply the build, AirTrunk is using a 25,000 square metre buffer zone in Western Sydney to store and pre-commission equipment, and has chartered vessels to move gear into Port Botany and Port Kembla. AirTrunk's announcement did not state campus capacity. Mingtiandi reported the campus as 400MW, while Baxtel's site record lists 220MW across construction and planned stages.
The deal brings AirTrunk's total committed debt financing to about A$38.4 billion globally, including more than A$19.8 billion across its Australian projects. The company's Australian platform spans five campuses with more than 1.2GW of capacity. AirTrunk has invested more than A$12 billion in Australia and plans a further A$75 billion over the next decade. The SYD3 loan is about 27 percent larger than the A$2.325 billion facility AirTrunk arranged for its JHB2 campus in Johor, which the company described in July as its largest single-asset deal to date.
"SYD3 is a long-term investment in Western Sydney and Australia's digital capability, backed by the confidence of leading Australian and international banks," said Tom Mackellar, vice president of origination and market expansion at AirTrunk. The financing supports AirTrunk's Net Zero 2030 target for Scope 1 and Scope 2 emissions. At SYD3, construction measures include lower carbon steel and concrete and a target to divert at least 90 percent of non-hazardous construction waste from landfill. Construction is led by A W Edwards.
The loan follows a $1 billion green loan for liquid-cooled capacity at AirTrunk's TOK1 campus in Tokyo this month and the Johor Bahru financing in July. AirTrunk has put a planned Singapore REIT listing on hold and deferred it to next year, Mingtiandi reported. "Experience, disciplined execution, strong fundamentals and trusted relationships matter more than ever," said Robin Khuda, chief executive at AirTrunk. He told Mingtiandi the debt deal signalled "a flight to quality in an increasingly selective capital market." Baxtel tracks 114 data center facilities in Sydney, where AirTrunk operates four sites and 15 facilities are under construction. Completion of the expanded SYD3 development is expected by mid-2028.
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