(Bloomberg) -- Private credit funds are in talks to provide at least A$1.5 billion ($978 million) of junior debt to help finance a potential buyout of Australian data center operator AirTrunk Pte., according to people familiar with the matter.
The direct lenders’ loans would come in addition to a A$7 billion financing offer from banks, the people said, asking not to be identified speaking about the confidential negotiations.
There are at least two bidders for AirTrunk, whose owners seek around A$20 billion in the sale, Bloomberg News reported this week. Blackstone Inc. has shown some interest in the asset, and there’s a consortium comprising IFM Investors Pty, Digital Bridge Group Inc., Global Infrastructure Partners and Silver Lake Management in the running. The buyout would be one of Asia Pacific’s largest digital infrastructure deals of 2024.
AirTrunk operates data centers in Australia, Singapore, Hong Kong, Japan and Malaysia, its website shows. The company opened its new global headquarters in Sydney in February. A group led by Macquarie Group Ltd. took control of the firm four years ago in a deal that valued it at about A$3 billion, Bloomberg News reported at the time.
--With assistance from Davide Scigliuzzo.
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