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Milbank LLP advised UK-headquartered AI infrastructure provider Nscale in connection with a US$1.4 billion Delayed Draw Term Loan backed by GPUs (“GPU DDTL”). The funding will be used to purchase GPU infrastructure to deliver service under multiple contracts.
The oversubscribed GPU DDTL will finance multiple cluster deployments located in Norway, Portugal, Iceland and the UK. Milbank also recently advised Nscale on its $1.1 billion Series B equity raise – the largest Series B ever in European history.
The Milbank team was led by partner Jaime Ramirez with associates Derrik Sweeney and Jorge Saldaña. The team also included Global Project, Energy and Infrastructure Finance partner Matthew Brown and associates Yi Ming Chan and Artem Gorodilov; Environmental partners Matthew Ahrens and Thomas Goslin and associate Allison Sloto; Global Risk & National Security partner Bijan Ganji and associates Lauren Trushin and Clayton Melton; Tax partners Andrew Walker and Alan Rafferty and associates Michelle Song and Jade Du Berry; Structured Credit partner Elizabeth Martinez, associate Chloe Wang and law clerk Zack Ziegler; and Technology partner Nicholas Smith.
