Blackstone’s AirTrunk seeks $3bn loan for one Sydney data centre

This article was published on June 18, 2026 The loan would fund SYD3, a 400MW-plus facility, in a market where the binding constraint is no longer money but power. AirTrunk wants to borrow A$4.3bn, roughly $3bn, to build a single data centre in Sydney. The Blackstone-owned operator is in talks with banks to fund SYD3, a hyperscale facility of more than 400 megawatts, according to people familiar with the matter. The scale of the loan is a measure of how large, and how power-hungry, the buildings behind the AI boom have become. The structure under discussion is a five-year facility, with banks approached to underwrite it. Terms are not final and could still change, the usual caveat for a deal at this stage, but the headline figure is striking on its own. A single Australian data centre now commands debt financing comparable to the cost of a major piece of public infrastructure, raised from a syndicate of lenders rather than a government. SYD3’s defining feature is its appetite for electricity. At more than 400MW, it sits among the most power-intensive facilities in the country, the kind of load that draws scrutiny from grid operators and local communities alike. That tension, betwee