Blackstone’s AirTrunk Plans Its First Data Center-Backed Bond

Blackstone Inc.-owned data center operator AirTrunk Pte. is looking to raise at least A$500 million ($358 million) through asset-backed bonds, according to people familiar with the matter, in what may be one of Asia’s first in the sector.

The Sydney-headquartered company is planning to launch the bond in the second half of the year to refinance existing bank loans, one of the people said, who asked not to be identified discussing private matters. The firm has held meetings locally and outside Australia to shore up investor interest, the people said, adding that it appointed Deutsche Bank to lead the transaction.