SMBC and Milbank Top TMT Finance US Digital Infrastructure Loans League Tables
TMT Finance has released its inaugural US digital infrastructure loans league tables, ranking the most active institutions in digital infrastructure lending across the United States. The new rankings provide a structured benchmark for lenders, advisors, and investors participating in one of the fastest-growing financing sectors.
The league tables cover 12 categories and evaluate institutions based on both deal volume and transaction value. Additionally, the rankings include key roles such as Bookrunner, Arranger, and Legal Advisor, recognizing 20 leading firms in each category.
Key Highlights from the League Tables
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Sumitomo Mitsui Banking Corporation (SMBC) leads all lender league tables.
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MUFG and JPMorgan rank among the top three across several lending categories.
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Milbank secures the top position in legal advisory rankings.
Growing Demand for Digital Infrastructure Financing
The launch of the US digital infrastructure loans league tables reflects the rapid expansion of the digital infrastructure financing market. Strong investments in data centers, fiber networks, and next-generation connectivity platforms continue to drive capital demand.
Moreover, the rise of cloud computing, artificial intelligence, and enterprise digitalization has made debt markets essential for funding infrastructure projects. As a result, reliable benchmarking tools have become increasingly important for market participants.
TMT Finance built the rankings using proprietary deal intelligence and market data. Consequently, the tables highlight the institutions actively shaping capital flows across both broad digital infrastructure projects and specialized data center transactions.
Data Centers Dominate the Market
According to TMT Finance, nearly $133 billion in deals were tracked in the 2025 rankings. Notably, over $106 billion came from data center financings across 57 transactions, representing almost 80% market share.
With Q4 2025 emerging as the busiest quarter by value, analysts expect strong momentum to continue into 2026. Currently, the Loans Pipeline Tracker lists 62 deals worth a combined $162 billion, signaling sustained growth in the sector.
Expansion Plans for League Table Coverage
The 2025 edition marks the first step in TMT Finance’s broader expansion of debt market coverage. The company plans to publish H1 2026 loans league tables for both the US and Europe, followed by expansion into APAC and other global markets.
Ben Nice, Chief Content Officer at TMT Finance, emphasized that the rankings reflect deeper data coverage and provide robust benchmarking across lenders, advisors, pricing, and financial metrics.
Meanwhile, Maisie Clarke, Editor and Head of Debt Coverage, noted that the strong pipeline suggests the league tables will continue evolving as digital infrastructure investment accelerates worldwide.
As financing needs grow alongside technological innovation, the US digital infrastructure loans league tables are expected to become a critical reference point for institutions navigating this competitive market.
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