Three Milbank Transactions Featured in Asia Business Law Journal’s 10th Anniversary “Deals of the Decade” Special Report

Milbank LLP has been recognized for its work on three landmark transactions selected for inclusion in Asia Business Law Journal’s 10th Anniversary special report, “Deals of the Decade” — a curated selection of the top deals that have shaped Asia’s legal landscape over the past ten years. The selections were made by Asia Business Law Journal’s editorial team based on references and qualitative insights gathered from in-house counsel and other legal professionals around the world.

The Milbank transactions featured in the report are:

• Maynilad Water Services’ PHP34.3 billion initial public offering. Milbank advised the joint global coordinators and joint bookrunners on the largest IPO in the Philippines in 2025 and the second-largest IPO ever in the country. The IPO was also recognized as the 2025 “ESG Deal of the Year” by IFR Asia. The transaction was led by Corporate Finance and Securities partner James Grandolfo in Hong Kong, with associates York Wu and Julo Lim.
• Yondr Group’s US$900 million project financing for its Johor hyperscale data center campus. Milbank advised the finance parties, including DBS Bank, Deutsche Bank, Global Infrastructure Partners, HSBC, International Finance Corporation (IFC), ING and Natixis CIB, on the financing of a 98 MW data center in Johor, Malaysia — the first phase of a 72.5-acre campus that will deliver up to 340 megawatts of critical IT capacity when fully complete, making it one of the largest and most technologically advanced data centers in Asia Pacific. The transaction was previously named “Project Finance Deal of the Year” at the 2025 IFLR Asia Pacific Awards and “Digital Infrastructure Deal of the Year” at the 2024 IJGlobal Asia Pacific Awards. The transaction was led by Project, Energy and Infrastructure Finance partners James Orme, David Zemans and Daniel Bartfeld, and included special counsel Rosaline Yusman, of counsel Desiree Woo and associates Deirdre Swift, Wei Sheng Lee, An Guo, Kris Singh, and Jade du Berry.
• Digital Edge and B.Grimm Power’s US$880 million Thai data center green loan. Milbank represented the joint venture subsidiary of the project sponsors Digital Edge and B.Grimm Power on the largest financing ever secured for a data center project in Thailand. The green loan will finance the development of the 100 MW BKK Data Center Campus in Chonburi, Thailand, supporting the country's national digitalization strategy. The transaction was led by partners James Orme and David Zemans, and included special counsel Rosaline Yusman, of counsel Desiree Woo and associates Lewis Blundell and Lauren Kava.

“Having three of our Asia transactions recognized among the top deals of the past decade is a testament to the depth and breadth of Milbank’s practice across the region,” said David Zemans, Managing Partner of Milbank’s Singapore office and Asia Practice. “These deals reflect both the quality of our clients and the ability for our team to delivering innovative solutions on the most complex and impactful transactions in the market.”

“Each of these transactions was a first-of-its-kind or market-defining deal in its respective sector,” added James Grandolfo, managing partner of Milbank’s Hong Kong office. “We are proud to see them recognized by Asia Business Law Journal as deals that have helped shape Asia's legal and business landscape.”

These recognitions further cement Milbank’s standing as a premier legal adviser in Asia, reflecting the firm’s deep roots and nearly five decades of experience in the region since 1977.

Please click here to learn more about the Asia Business Law Journal’s “Deals of the Decade” special report.