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AirTrunk backing to see ‘major’ Australian data centre expansion
Norton Rose Fulbright has advised AirTrunk on a multimillion-dollar financing process to fund what’s being dubbed a major expansion of its Australian data centres.
Emma Musgrave
Firm: Norton Rose Fulbright (AirTrunk)
Value: $850 million
Area: Finance
Key players: The Norton Rose Fulbright team was led by partners Chris Patten and Shane Bilardi, with assistance from senior associates Grant Schulz, Sarah Wilson and Louise Kelly, associate Marco Lagos, lawyer Felicity Young and special counsel Ka-Chi Cheung.
Deal significance: According to a statement from Norton Rose Fulbright, this financing marks the largest by a data centre company in Australia to date. Grant Samuel acted as the financial adviser to AirTrunk while Deutsche Bank was listed as the lead arranger, underwriter and sole bookrunner for the new senior secured debt facilities.
“We are delighted to have advised AirTrunk on this landmark financing and it was a pleasure working with the AirTrunk management team and Grant Samuel. This deal is a terrific example of the benefits of a competitive financing process and the flexible and scalable debt package is the latest example of product innovation in the Australian debt markets, drawing on traditional project finance and leveraged finance methodologies and bespoke features coming to market through the growth of unitranche and institutional lending in the region,” said MrPatten.
“We are thrilled to have contributed our cross-product and cross-border expertise to this transaction. We also congratulate Deutsche Bank and its counsel, Gilbert+Tobin on this outstanding result.”
Mr Bilardi added: “We are proud to continue to support AirTrunk with this latest, crucial step in its phenomenal growth trajectory in Australia and the Asia-Pacific region”.
“This financing positions AirTrunk well as it continues to pursue its ambition to be the leader in hyperscale data centres for the region. This is also further evidence of our commitment to supporting emerging Australian technology companies,” he said.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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