Milbank, Morrison Foerster (MoFo) and Rahmat Lim & Partners have advised on Digital Decarbonisation Solutions Platform’s (DDSP) USD283 million green financing for its hyperscale data centre campus in Johor, Malaysia.
Milbank acted for the lenders, which included CTBC Bank, MUFG and Standard Chartered as mandated lead arrangers, underwriters and bookrunners, alongside Entie Commercial Bank as a mandated lead arranger. Asia managing partner David Zemans and partner James Orme led the transaction team, which included special counsel Rosaline Yusman, of counsel Desiree Woo and associates An Guo, Wei Sheng Lee and Lauren Kava.
“The successful completion of this green loan financing marks another significant step forward for digital infrastructure in Malaysia and will help support the growing demand for data centre capacity across Southeast Asia,” Zemans told Asia Business Law Journal.
Orme said the evolving nature of the lending landscape in the data centre sector proved to be one of the core challenges of the deal.
“This financing demonstrates the increasing sophistication of the lending market for AI-ready data centre infrastructure in Southeast Asia. Our team’s deep experience at the intersection of energy, sustainability and next-generation technology was instrumental in navigating the complex structuring required for a green-certified facility of this scale,” he told ABLJ.
MoFo advised DDSP on the financial close of the green financing, with the team led by Yemi Tépé, Asia head of the firm’s finance practice. MoFo also utilised its digital infrastructure capabilities in the data centre and operating services space, led by Singapore office managing partner Tabitha Saw and associates Lisa Yeo, Timothy Lau and Hui Min Foo.
Rahmat Lim & Partners served as Malaysian legal counsel to DDSP, with partner and co-head of the financial services department Kelvin Loh spearheading the team.
DDSP’s 45MW data centre campus in Johor forms part of its broader Asia-Pacific 1.1GW development pipeline, which includes hyperscale digital infrastructure and decarbonised energy projects across multiple jurisdictions, including Thailand, Malaysia, Singapore, Indonesia and Taiwan.
