AirTrunk’s owners were reported to be planning to ask the company’s lenders to waive loan provisions that could require refinancing if a controlling stake in the Australian data-centre operator were sold. Bloomberg Law reported the plan on June 24, 2024, citing unnamed people familiar with the matter. The report did not establish that the request was made or that lenders agreed to it.
Why would a sale trigger a lender waiver?
Bloomberg Law said AirTrunk’s loan agreements contained change-of-control provisions: under the terms described in the report, selling a controlling stake would trigger refinancing. The owners reportedly planned to ask lenders to waive those provisions so the lenders could remain in the existing agreements after a sale.
That describes two possible paths, not a confirmed outcome:
- If lenders waived the provisions: they could continue under the existing loan agreements, as described in the report.
- If the sale triggered the provisions without a waiver: AirTrunk would have to refinance under the terms Bloomberg Law described.
The report did not publish the loan agreements, so the precise contractual language and any conditions attached to a waiver are not established in the public account.
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- Corporate Finance 13th Edition by Stephen A. Ross Franco Modigliani Professor of Financial Economics Professor (Author), Randolph W Westerfield Robert R. Dockson Deans Chair in Bus. Admin. (Author), Jeffrey Jaffe , Bradford D Jordan Professor
What was—and was not—confirmed in 2024?
The June 24, 2024 Bloomberg Law article attributed the proposed request to people familiar with the matter who were not identified because it was not public. It did not name the owners or lenders, specify the loan balance or number of lenders, or say whether a waiver was executed. Its wording supports “reportedly planned to ask,” not a claim that the owners formally made the request or received approval.
Do later AirTrunk financing reports answer what happened?
No. In July 2026, The Star, citing Reuters, reported that Blackstone was seeking a A$4.3 billion loan to build AirTrunk’s SYD3 data centre. Bloomberg Law also reported that month on banks underwriting a similar A$4.3 billion SYD3 financing plan. Those stories describe later financing activity; they do not establish the outcome of the separate waiver request reported in 2024. The later coverage describes AirTrunk as Blackstone-owned, but that context should not be treated as proof that lenders waived the earlier change-of-control provisions.
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What remains unknown about the waiver?
The public reporting cited here does not establish whether the request was made, whether lenders consented, or what terms they might have required. Without a reported outcome or the underlying agreements, it is not possible to say whether the sale-related refinancing trigger was waived or how it was ultimately handled.
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