Blackstone’s AirTrunk has secured a 191.6 billion yen ($1.24 billion) green loan to refinance and fund expansion of its hyperscale data centre campus in eastern Tokyo, marking the largest data centre financing completed in Japan, the company said.
The loan will refinance existing facilities and support further development of its TOK1 campus, which is scalable to more than 300 megawatts of capacity to serve cloud and artificial intelligence workloads.
The financing was led by Sumitomo Mitsui Banking Corporation, MUFG Bank, Crédit Agricole Corporate and Investment Bank and Société Générale as global coordinators.
Eight additional banks joined the syndicate as mandated lead arrangers and bookrunners, including BNP Paribas, DBS Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation and United Overseas Bank.
AirTrunk recently began construction to add more than 100MW of IT load at the TOK1 site to meet near-term demand as Japan accelerates adoption of cloud computing and AI.
The loan was structured under AirTrunk’s Green Financing Framework, with margin incentives directed to the company’s social impact fund supporting initiatives including STEM education, digital inclusion and environmental programs in Japan.
Founded by Robin Khuda, AirTrunk said its total investment in Japan has now exceeded $8 billion, covering four campuses — TOK1, TOK2, OSK1 and OSK2 — that are expected to deliver about 530MW of capacity when fully built.
