Blackstone’s AirTrunk Seeks $2 Billion Loan for Malaysia Growth

Blackstone Inc.-owned data center firm AirTrunk is marketing a $2.3 billion loan to fund a Malaysia project, according to people familiar with the matter, part of a slew of tech-linked financings in Southeast Asia spurred by the artificial intelligence boom.

Proceeds will support the firm’s 200-megawatt AirTrunk JHB2 facility located in the southern state of Johor, said the people, who asked not to be identified discussing private matters. About a dozen lenders — including DBS Group Holdings Ltd., Credit Agricole SA, ING Bank NV and United Overseas Bank Ltd. — are arranging the three-year loan, which is being syndicated to the broader market, the people said.