{
  "id": 6684043,
  "title": "Blackstone’s AirTrunk seeks US$1.6bil loan for Singapore IPO",
  "url": "https://urgent.news/2026/09/11/blackstones-airtrunk-seeks-us-1-6bil-loan-for-singapore-ipo-6684043",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-11T01:17:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/09/11/blackstone-s-airtrunk-seeks-us-1-6bil-loan-for-singapore-ipo"
  },
  "original_language": "en",
  "account": "Singapore-based data centre operator AirTrunk, owned by Blackstone Inc., is reportedly in discussions with banks to secure approximately S$2 billion (US$1.6 billion) to finance the initial public offering (IPO) of a real estate investment trust (REIT) backed by its assets, according to individuals familiar with the situation. The company has approached lenders requesting multiple tranches of debt, ranging from three to seven years, denominated in Singapore dollars and yen, the sources revealed, requesting anonymity due to the private nature of the discussions. The loan, to be utilized by the REIT, is likely to be employed for acquiring assets from AirTrunk and refinancing its existing debt, with the terms yet to be finalized and potentially subject to change. Neither AirTrunk nor Blackstone's representatives were available for comment.\n\nThe planned REIT IPO in Singapore is anticipated to be a significant milestone for data centre financing in the region, where banks have reached their lending thresholds and are becoming increasingly selective about the projects they extend credit to. Data centre loans in the region have skyrocketed to nearly US$29 billion since the beginning of last year, as per Bloomberg's data. In response to the growing demand, financial institutions are devising innovative methods to free up their balance sheets for additional lending, such as through asset-backed bonds, which AirTrunk is also exploring. By conducting the IPO, AirTrunk can repurpose some of its assets into the REIT and raise funds from a broader pool of investors.\n\nAirTrunk has been a particularly aggressive borrower in the region, securing billions for data centre developments, including a recent US$2.3 billion green loan for a facility in Malaysia. Nevertheless, its association with Blackstone has ensured that numerous banks remain willing to extend debt despite rejecting smaller, less prominent operators, according to the individuals familiar with the matter. AirTrunk has been in the final stages of filing for the REIT IPO since June. In earlier discussions this year, other sources had indicated that the company may raise around US$1.5 billion through the offering.",
  "summary": "The loan, raised by the real estate investment trust, will likely be used to acquire AirTrunk’s assets and refinance existing debt.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Free Malaysia Today",
        "title": "Blackstone’s AirTrunk seeks US$1.6bil loan for Singapore IPO",
        "url": "https://urgent.news/2026/09/11/blackstones-airtrunk-seeks-us-1-6bil-loan-for-singapore-ipo",
        "published": "2026-09-11T01:17:00.000Z"
      },
      {
        "outlet": "Tech in Asia",
        "title": "AirTrunk seeks $1.5b loan ahead of Singapore REIT IPO",
        "url": "https://urgent.news/2026/09/11/airtrunk-seeks-1-5b-loan-ahead-of-singapore-reit-ipo",
        "published": "2026-09-11T02:55:19.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}