The International Finance Corporation (IFC) has approved a financing package of up to US$ 175 million to data center operator AirTrunk Group to support the firm’s data centers in Johor, Malaysia. The financing package comprises a combination of debt financing and equity investment, IFC says in a disclosure. Approval is pending signing by the IFC Board as of 14th July.
The data centers involved are JHB1, a 150MW fully contracted hyperscale data center, and JHB2, a 270MW greenfield data center to be developed on an adjacent site.
According to the disclosure which is published on IFC’s website, the financing aims to “develop and expand the infrastructure required to support delivery of more digital services in Malaysia and the Asia Pacific region.” Beyond that, IFC also anticipates the data centers will contribute to job creation during the construction and operational stages, as well as “enhance the competitiveness of the data hosting services market in Malaysia and EAP region by facilitating the expansion of a leading data center provider.”
AirTrunk’s key shareholders include global alternative asset manager Blackstone and Canada Pension Plan Investment Board (CPPIB).
Earlier this week, w.media reported on AirTrunk’s planned listing of a Real Estate Investment Trust (REIT) sometime in September or October for a US$1.5 billion raise.