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Market Chatter: Blackstone's Airtrunk Eyes SG$2 Billion Loan for Singapore IPO

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Blackstone-owned data center operator AirTrunk is reportedly seeking to raise around SG$2 billion in bank financing for the initial public offering of a real estate investment trust (REIT) backed by its assets, Bloomberg reported Friday, citing people familiar with the matter.

The REIT will likely use the amount to acquire AirTrunk assets and refinance debt, the report said.

The company has reached out to lenders for several tranches of debt from three to seven years in Singapore dollars and yen, the people told the news agency.

A Blackstone representative declined to comment on the report, while AirTrunk did not immediately respond to' request for a comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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