Norton Rose Fulbright acts for AirTrunk in largest pre-revenue capital raising by a start-up in Asia-Pacific

Global Business February 15, 2017

Global law firm Norton Rose Fulbright has acted for data centre developer and operator AirTrunk on its $400 million capital raising. The deal has been referred to by financial adviser to the transaction JP Morgan “as the single largest pre-revenue capital raising by a start-up in the Asia-Pacific”.

The capital raising will finance large scale data centres in both Melbourne and Sydney ahead of potential further expansion in the Asia-Pacific region. The two Australian data centres are planned to open in the third quarter of this calendar year, initially offering 20MW of load but with the ability to increase to 70MW in Sydney and 50MW in Melbourne. Once fully completed, the data centres will be amongst the largest data centres in the Asia Pacific region.

Two of the world’s leading special situation funds are investing alongside AirTrunk major shareholder and chief executive, Robin Khuda. A senior debt facility has also been committed by ING Bank and Natixis.

Melbourne corporate partner Shane Bilardi commented:

“We are delighted to have advised AirTrunk on this crucial transaction. While AirTrunk is a start-up today, it won’t be for long and it has a phenomenal future ahead of it. It is exciting to see entrepreneurs like Robin and a talented management team develop a business like AirTrunk and we are proud to have worked with them from the very beginning and look forward to working with them now to grow their business across the Asia Pacific region.”

Shane Bilardi was assisted by partners Jyoti Singh and Jeremy Wickens (corporate), Jo Crew and Scott Millar (debt), special counsel, Adele Gray, Sefton Warner, Guy Albeck, Deanne Ogilvie, senior associates, Jamie Griffin and Simon Meagher and associates, Sarah Wilson, Adele Gray, Eleanor Taylor, Sarah Mulcahy.

This announcement comes in the same month that Norton Rose Fulbright announced its pivotal role in acting for Qube Holdings and its related entities on the development and operation of one of the most important freight infrastructure projects being developed in Australia: the Moorebank intermodal facility in NSW involving the Sydney Intermodal Terminal Alliance (SIMTA).

For further information please contact:

Alex Boxsell, Senior Brand & External Communications Manager, Norton Rose Fulbright in Australia
Tel: +61 (0)2 9330 8165   Mob: +61 (0)414 985 556

Notes for editors:

Norton Rose Fulbright 

Norton Rose Fulbright is a global law firm. We provide the world’s preeminent corporations and financial institutions with a full business law service. We have more than 3500 lawyers and other legal staff based in more than 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.

Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare.

Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact.

For more information about Norton Rose Fulbright, see