Mayer Brown advises lenders in landmark US$3.1 billion AI infrastructure financing for Zankore

SINGAPORE – Mayer Brown has advised the lenders on a senior term loan facility of up to US$3.1 billion for Zankore, a landmark transaction supporting the development of large-scale NVIDIA-powered AI compute infrastructure in Southeast Asia and one of Asia’s largest AI infrastructure financings.

Mayer Brown acted as lead transaction counsel to Citigroup Global Markets Asia Limited, ING Bank N.V., Natixis Corporate & Investment Banking, Qatar National Bank (Q.P.S.C.) and United Overseas Bank as senior mandated lead arrangers, underwriters and bookrunners for the financing.

Launched in 2026 with the support of Ooredoo Group, Indosat Ooredoo Hutchison, NVIDIA and Nokia, Zankore is developing one of Asia’s largest AI infrastructure platforms. The financing will support the acquisition and deployment of advanced NVIDIA GPU infrastructure for its AI cloud platform, which aims to serve enterprises, startups, developers and institutions across Indonesia and Southeast Asia, supporting AI training, inference and other advanced AI workloads.

Janelene Chen, Mayer Brown’s lead partner on the transaction, said:

“The rapid growth of AI is creating significant demand for financing to support the acquisition and deployment of the underlying compute infrastructure. This transaction reflects the increasing scale and sophistication of financing solutions being developed for AI compute infrastructure. We are delighted to have worked closely with the lender group on this complex, cross-border financing and to have helped bring together the many stakeholders involved in its successful execution.”

Mayer Brown advised the lenders throughout the financing on its structuring, negotiation, documentation and execution, including the security arrangements, the underlying GPU contractual framework and export control considerations. The transaction highlights Mayer Brown’s cross-border financing capabilities, drawing on the team’s longstanding experience in transactions involving Indonesia and its ability to seamlessly advise across multiple jurisdictions and practice areas.

The transaction further demonstrates the firm’s strength in financing digital infrastructure and technology assets across Asia Pacific and globally. Mayer Brown regularly advises lenders, sponsors, investors and developers on complex financings involving data centers, telecommunications infrastructure, technology-enabled assets and other critical infrastructure supporting the digital economy.

The Mayer Brown team was led by Singapore-based Banking & Finance partner Janelene Chen, with senior associates Henderik Tan and Gabriel Lim. The team was supported by Projects & Infrastructure partners Andrew Gibb and Justen Fleming in relation to the underlying contractual arrangements; and Mayer Brown’s Co-Leader of Sanctions and Export Control Thea Kendler and associate Stephanie Jebeyli on sanctions and export control matters. Additional support was provided by partner Christopher Chubb on New York law matters; and partner Edmund Parker and senior associate William Price on hedging arrangements.