Milbank LLP Singapore-based partner James Orme spoke with IJGlobal about the firm’s involvement in the recently announced $550 million financing of an up to 102.6 MW hyperscale data-center campus in Rayong, Thailand. Milbank advised the finance parties to the project, which is being developed by True IDC, a leading Thai data center and digital services provider backed by a BlackRock portfolio company, Global Infrastructure Partners (GIP), as well as Charoen Pokphand Group (CP Group).
In “Riding the Data Centre Elephant in Thailand,” Mr. Orme discusses the evolution of Thailand’s data-center market and the nation’s growing role in Asia.
“The Thai Board of Investment has been instrumental in attracting international investment into the sector,” Mr. Orme said. “We are seeing strong momentum from US, Chinese and regional hyperscale customers, supported by a favorable regulatory regime.” He notes that offshore lenders, many of whom are less familiar with the Thai market, are increasingly active in financing these projects.
Milbank has led over US$60 billion of data infrastructure transactions in the past year, including data centers and associated power solutions, chip foundries, GPU procurement, fiber and towers.
