DLA Piper advises on THB28 billion financing for hyperscale data center project in Thailand

DLA Piper advised DayOne Data Centers’ subsidiary in Thailand on the THB28 billion (approximately USD770 million) financing for the development of a new hyperscale data center campus at Chonburi Tech Park, located within the Amata City Chonburi Industrial Estate.

Representing one of the largest green loan transactions of its kind in Thailand, the financing supports DayOne’s first data center project in the country. Upon completion, the facility is expected to be the largest hyperscale data center of its scale in Thailand, contributing to the national ambition to position itself as a regional hub for digital infrastructure.

DLA Piper acted as lead counsel to the borrower and sponsor across all aspects of the project financing, working with six local and international commercial banks. The team advised on the structuring and negotiation of a complex multi‑lender arrangement, ensuring bankability while preserving commercial and operational flexibility for the client. The financing incorporates green loan criteria and spans a multi‑jurisdictional sponsor structure.

DLA Piper’s role also covered lender requirements relating to the security package, cashflow management, hedging arrangements, sustainability benchmarks, and customer direct agreements, providing clarity on risk allocation and supporting progress against development timelines.

The DLA Piper team was led by Waranon (Warren) Vanichprapa, Partner, Head of the Asia Finance practice and Country Managing Partner for Thailand. He was supported by Pattadon Tejapaibul (senior associate) and Fuengfha Vangvasu (associate).

Waranon (Warren) Vanichprapa commented: “This transaction underscores continued investment in Thailand’s digital infrastructure and the role of green financing in enabling large‑scale projects. By coordinating a multi‑lender, cross‑border structure, we focused on practical solutions that balanced bankability with the sponsor’s development objectives.”

This project contributes to Thailand’s broader strategy to expand next‑generation digital infrastructure in response to increasing demand for cloud services, data storage and artificial intelligence capabilities.

DLA Piper has advised several clients on their data center-related transactions, including:

• Advising Astra Partners, a specialist investor and developer in the data center market, on receiving a EUR340 million financing facility to fund the development of a data center in Kildare, Ireland.
• Supporting the Qatar Investment Authority on its investment in d-matric, a leader in GenAI for data centers
• Advising Helios Investment Partners on the acquisition of Maroc Data center, Munisys, and Medasys, creating 3MDC, a new digital infrastructure platform
• Guiding Prime Capital AG on the acquisition of WBS Flugplatz GmbH and the establishment of a joint venture to develop a hyperscale data center
• Advising Echelon on the creation of a joint venture with Iberdrola for the development of data centers in Spain
• Supporting Digital Gravity Partners on the acquisition of an enterprise data center in England
• Leading the legal counsel on the sale of hyperscale data center solution provider, AirTrunk, to Blackstone for AUD24 billion.