development/construction
Stage
TOK1 hyperscale data center campus
Project
AirTrunk secured a $1.24bn green loan to expand its TOK1 hyperscale data center campus in East Tokyo by 100MW of IT load. This financing, led.
Get daily data center deal alerts — free, no spam.
Counterparts (11)
Lender
Société Générale
company · 9 deals
Société Générale has acted as a lender in two verified deals, totaling £500 million and $1.5 billion, respectively. These financings support renewable energy projects, specifically one solar project in the UK and one energy storage project in the USA. This indicates a focus on providing debt financing for solar and energy storage projects across international markets.
UnitedOverseas Bank
company · 1 deals
Singapore-headquartered United Overseas Bank (UOB) is a leading Asian bank with over 26,000 employees. It provides extensive project and corporate financing, particularly for infrastructure and energy transition projects across Southeast Asia and Greater China, with a strong focus on sustainable finance.
SMBC
company · 3 deals
SMBC Group is committed to the growth of its clients, the development of its people, and the advancement of society. They aim to promote a better and safer world for all, supporting business development of clients around the world.
Oversea-Chinese Banking Corporation (OCBC)
company · 1 deals
Singapore-headquartered Oversea-Chinese Banking Corporation (OCBC) is a leading financial services group in Asia, providing a wide range of banking, insurance, and wealth management services. With over 30,000 employees and total assets exceeding US$450 billion, OCBC is a significant lender to infrastructure projects across Southeast Asia, Greater China, and other key markets, focusing on sectors like energy transition, transport, and digital infrastructure.
MUFG
company · 6 deals
Mitsubishi UFJ Financial Group (MUFG) is a global financial group. They provide financial services, including banking, trust banking, and securities, and are involved in sustainability initiatives, including financing for projects that contribute to a carbon-neutral society.
BNP Paribas
company · 9 deals
BNP Paribas is a global financial institution that provides financing and investment solutions across various sectors, including renewable energy. They support the development and deployment of renewable energy projects through project finance, advisory services, and capital markets solutions.
NATIXIS
company · 2 deals
Natixis is a Corporate & Investment Banking and Asset & Wealth Management firm. They offer innovative and sustainable financing and investment solutions to corporations, investors, financial institutions, financial sponsors and customers of Groupe BPCE’s retail networks.
DBS Bank
company · 1 deals
Singapore-headquartered multinational banking and financial services corporation with over S$799 billion in total assets as of 2023. It provides a full range of banking services, including corporate and investment banking, wealth management, and project finance across Asia and globally.
E.SUN Commercial Bank
company · 1 deals
E.SUN Commercial Bank is a leading Taiwanese bank, a subsidiary of E.SUN Financial Holding, with approximately $100 billion in total assets. It provides a wide range of financial services, including corporate and project finance, with a strong focus on sustainable finance and infrastructure lending in Taiwan and across Asia.
Credit Agricole CIB
company · 3 deals
Credit Agricole CIB acted as a lender in one verified deal: the $870.75M green bond financing for a solar project in the United Arab Emirates. This single deal highlights their activity as a lender in the renewable energy sector, specifically solar, within the UAE.
Register free to access full counterpart details, deal analysis, and timeline.
Register free →
Deal Analysis
AirTrunk's $1.24 billion green loan for its TOK1 hyperscale data center campus expansion in East Tokyo highlights the robust demand for sustainable digital infrastructure financing in the Asia Pacific. This substantial capital injection will facilitate a 100MW IT load expansion, bringing the TOK1 facility to 300 MW capacity and significantly boosting AirTrunk's regional footprint of over 1.3GW committed capacity across 11 facilities. The "green loan" designation aligns the project with increasing investor and lender focus on ESG principles within critical infrastructure. For AirTrunk, a Sydney-based developer, this financing directly supports its strategy of scaling hyperscale data center operations to meet escalating cloud and enterprise needs in key Asian markets. This development stage financing positions the East Tokyo campus as a cornerstone asset in AirTrunk's portfolio.
A diverse syndicate of eleven lenders, including major Japanese, Singaporean, French, and Taiwanese financial institutions, participated, demonstrating broad institutional appetite for large-scale data center debt. Mizuho Bank, a core subsidiary with approximately $1.7 trillion in total assets, and MUFG, involved in sustainability initiatives, represent the strong Japanese banking presence. Singapore-headquartered UOB, OCBC, and DBS Bank, with over S$799 billion in total assets for DBS alone, highlight regional financial power. European lenders like Société Générale, with a track record in renewable energy financings totaling $2 billion across two verified deals, BNP Paribas, and Crédit Agricole CIB, further diversify the syndicate. The participation of E.SUN Commercial Bank, a leading Taiwanese bank with approximately $100 billion in total assets, collectively validates the commercial viability and green credentials of AirTrunk's TOK1 expansion.
- AirTrunk secured a $1.24 billion green loan for its TOK1 hyperscale data center campus.
- The financing supports a 100MW IT load expansion, bringing TOK1's total capacity to 300 MW.
- Eleven lenders participated, including major Japanese banks like Mizuho Bank ($1.7 trillion assets) and MUFG.
- Singaporean financial powerhouses UOB, OCBC, and DBS Bank (S$799 billion assets) joined the syndicate.
- European lenders Société Générale, BNP Paribas, NATIXIS, and Crédit Agricole CIB contributed to the green financing.
- AirTrunk operates over 1.3GW of committed capacity across 11 facilities in Asia Pacific.
Source Intelligence
KEY DETAILS
The loan is structured under AirTrunk’s Green Financing Framework, which aims for sustainable development with renewable energy transition, net zero carbon, water resilience, and nature and biodiversity stewardship in mind. The company said the loan met its energy efficiency standards. AirTrunk stated this is the largest ever data center financing completed in Japan and part of its broader $8 billion investment in the country. AirTrunk's four campuses in Japan (TOK1, TOK2, OSK1, and OSK2) will deliver 530MW of total capacity at full build-out. AirTrunk was acquired by Blackstone and Canada Pension Plan Investment Board in 2024 for $16.1 billion.
“
Deal Size
AirTrunk has secured a record-breaking $1.24 billion green loan in Japan.
“
Capacity
The funds will be used to refinance and develop the company's TOK1 hyperscale data center campus, located in East Tokyo. AirTrunk said it will add additional capacity to the campus, which is scalable to more than 300MW.
“
Location
The funds will be used to refinance and develop the company's TOK1 hyperscale data center campus, located in East Tokyo.
“
Financials
AirTrunk has secured a record-breaking $1.24 billion green loan in Japan.
“
Announcement
March 10, 2026 By Barney Dixon
PARTIES MENTIONED IN SOURCE
A
AirTrunk
borrower/developer
"APAC data center operator AirTrunk has secured a record-breaking $1.24 billion green loan in Japan."
S
SMBC
lender
"The financing was led by SMBC, MUFG, Crédit Agricole CIB, and Société Générale as global coordinators."
M
MUFG
lender
"The financing was led by SMBC, MUFG, Crédit Agricole CIB, and Société Générale as global coordinators."
C
Crédit Agricole CIB
lender
"The financing was led by SMBC, MUFG, Crédit Agricole CIB, and Société Générale as global coordinators."
S
Société Générale
lender
"The financing was led by SMBC, MUFG, Crédit Agricole CIB, and Société Générale as global coordinators."
B
BNP Paribas
lender
"Some 12 banks participated as mandated lead arrangers and bookrunners, including BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and UnitedOverseas Bank, as well as the four global coordinators."
T
The Chiba Bank
lender
"Some 12 banks participated as mandated lead arrangers and bookrunners, including BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and UnitedOverseas Bank, as well as the four global coordinators."
D
DBS Bank
lender
"Some 12 banks participated as mandated lead arrangers and bookrunners, including BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and UnitedOverseas Bank, as well as the four global coordinators."
E
E.SUN Commercial Bank
lender
"Some 12 banks participated as mandated lead arrangers and bookrunners, including BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and UnitedOverseas Bank, as well as the four global coordinators."
M
Mizuho Bank
lender
"Some 12 banks participated as mandated lead arrangers and bookrunners, including BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and UnitedOverseas Bank, as well as the four global coordinators."
N
Natixis
lender
"Some 12 banks participated as mandated lead arrangers and bookrunners, including BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and UnitedOverseas Bank, as well as the four global coordinators."
O
Oversea-Chinese Banking Corporation (OCBC)
lender
"Some 12 banks participated as mandated lead arrangers and bookrunners, including BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and UnitedOverseas Bank, as well as the four global coordinators."
U
UnitedOverseas Bank
lender
"Some 12 banks participated as mandated lead arrangers and bookrunners, including BNP Paribas, The Chiba Bank, DBS Bank, E.SUN Commercial Bank, Mizuho Bank, Natixis, Oversea-Chinese Banking Corporation (OCBC), and UnitedOverseas Bank, as well as the four global coordinators."
high quality
Enriched Mar 10, 2026
Get the full picture — timeline, source intelligence, and counterpart analysis.
Register free →
Global Infrastructure Sherpa