August 29, 2023 - AirTrunk has revealed that it has managed to increase its corporate sustainability linked loan (SLL) to $4.6bn .
The specialists in hyper-scale data centres across the Asia-Pacific & Japan (APJ) region, aim to utilise the funds to refinance the existing debt facilities of AirTrunk and provide financial support for the company’s rapid expansion across the region.
The announcement marks a significant accomplishment for the firm, which more than doubled the initial $2.1bn SLL secured in September 2021.
The SLL introduced by AirTrunk has proven to be a trailblazing example in the realm of sustainable financing. It now stands as the largest SLL ever established for a data centre operator globally.
Prashant Murthy, Chief Financial and Commercial Officer of AirTrunk, said: “Over the past two years, we have unveiled plans for developing over half a gigawatt of new capacity in APJ. This landmark SLL guarantees that our regional scaling is intrinsically sustainable, propelling the industry forward by redefining standards in sustainable financing.
“Our innovative combination of KPIs centred on pivotal environmental aspects in the industry, spanning carbon emissions, energy and water efficiency, alongside gender diversity and equity, underscores our commitment to responsible and sustainable expansion. These SLL KPIs harmonise seamlessly with our Net Zero by 2030 strategy, reinforcing our dedication to meeting our climate objectives.
“Our journey of innovation encompasses collaboration with customers, employees, investors, financing partners, regulatory bodies, and communities to drive such advancements towards a sustainable future.”
The SLL has set industry benchmarks in sustainable financing including as the largest SLL for a data centre operator globally and through a number of innovative and new key performance indicators (KPIs).
AirTrunk’s SLL links the company’s financing to meaningful and ambitious environmental and social commitments. The KPIs established as part of this SLL include carbon usage effectiveness (CUE), operating power usage effectiveness (PUE), operating water usage effectiveness (WUE), gender diversity and gender pay equity.
It is the first SLL to utilise a CUE metric, and therefore the first to combine CUE, WUE and PUE ensuring the highest level of environmental transparency and accountability for a data centre operator.
The SLL also represents the first publicly known financing by a data centre company to incorporate a gender pay equity target, reflecting AirTrunk’s commitment to diversity, equity and inclusion.
AirTrunk plans to invest all margin incentives from the SLL into social impact initiatives aligned to its four focus areas including Equal Digital Access, STEM Education, Biodiversity and Conservation, and Innovation and Research & Development.
