True IDC, a Bangkok-based data centre and cloud service provider, has signed a US$560 million project loan for a data centre campus in Thailand.

The lenders included Clifford Capital, Crédit Agricole CIB, Deutsche Bank unit DB International ( Asia ), Kiatnakin Phatra Bank Public, Standard Chartered Bank ( Singapore ), SMBC, and HSBC. Milbank represented the lenders, while Linklaters advised True IDC.

Earlier this year, Charoen Pokphand Group ( CP Group ) and True Internet Data Center ( True IDC ) formed a strategic partnership with Global Infrastructure Partners ( GIP ), the global infrastructure fund owned by BlackRock. The transaction marked GIP’s first venture into greenfield data centre development in Thailand.

The 102.6-megawatt hyperscale data centre is being developed in Rayong Province, and is designed to support high-intensity workloads and the needs of global technology companies investing in Thailand. 

Thailand is undergoing a digital infrastructure transformation to support the rapid growth of AI and cloud computing, and has become a leading digital economy hub within Asean.

True IDC plans to leverage its collaboration with GIP to expand investments in the data centre business across Southeast Asia.

Earlier this year, Baker McKenzie advised GIP in forming the strategic partnership with Charoen Pokphand Group and True IDC.