A cross-border team from global law firm Norton Rose Fulbright has advised AirTrunk, a specialist in hyperscale data centres, on the development and financing of a 60+ megawatt (MW) hyperscale data centre in Singapore.
The debt financing was undertaken with three global financial institutions – Deutsche Bank, Goldman Sachs and Natixis – with additional equity capital from AirTrunk’s founder and CEO, Robin Khuda, and shareholders, Goldman Sachs and TPG Sixth Street Partners.
Norton Rose Fulbright’s Australian and Singapore offices advised AirTrunk, which was also advised by independent financial adviser, Grant Samuel, and Rajah & Tann on property matters.
Norton Rose Fulbright partner Chris Patten who led the deal team for AirTrunk said:
“We are thrilled to help AirTrunk launch its expansion into the Asia-Pacific region and for our firm to continue to be part of the digital infrastructure boom. AirTrunk prides itself on its unmatched deployment speed, scalability, reliability and cost efficiency. We pride ourselves on our unmatched service and commitment to our clients and our ability to close complex and innovative cross border transactions like this in quick time.
"This deal follows the success of AirTrunk’s August 2018 AU$850 million financing for its Australian and APAC expansion. It was very pleasing to see the seamless way our Australian and Singapore teams worked to help AirTrunk become the first Australian operator to build a hyperscale data centre in Singapore. We congratulate the entire AirTrunk team and Grant Samuel, Rajah & Tann and Gilbert + Tobin, who led the legal team for the financiers, on such a successful outcome.”
In Australia, the Norton Rose Fulbright team included Chris Patten (partner, banking and finance), Shane Bilardi (partner, corporate M&A), Ka-Chi Cheung (special counsel, technology), Sarah Wilson (senior associate, corporate M&A), Louise Kelly (senior associate, banking and finance), Rebecca Ebzery (senior associate, construction and engineering) and John Azzopardi (associate, banking and finance). In Singapore, the team consisted of Yu-En Ong (head of Singapore and partner, banking and finance), Nicola Davies (partner, construction and engineering), Janelene Chen (of counsel, banking and finance), Darius Chan (of counsel, dispute resolution) and Kai Ye Ang (associate, banking and finance).
Financial close of the transaction comes soon after the strength of Norton Rose Fulbright’s global infrastructure and energy practices was recognised at this year’s IJGlobal Awards, with the firm advising on 18 ‘Deals of the Year’ and received the award for ‘Legal Adviser of the Year – North America (private sector)’.
For more information, contact:
Alex Boxsell, Head of Digital Content & Campaigns, 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 providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa and the Middle East.
Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.
Norton Rose Fulbright operates in accordance with its global business principles of quality, unity and integrity, aiming to provide the highest possible standard of legal service in each of its offices and to maintain that level of quality at every point of contact.
Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.