SMBC, Milbank top TMT Finance's Inaugural US Digital Infrastructure Loans League Tables for 2025

New rankings reveal leading lenders and legal advisors shaping the US digital infrastructure debt market

NEW YORK, Feb. 11, 2026 /PRNewswire/ -- TMT Finance, the leading source of data and intelligence on M&A, financing and investment in global digital infrastructure, has published its inaugural US Digital Infrastructure Loans League Tables, marking the first time the company has ranked the leading institutions by activity in digital infrastructure lending across the United States.

The rankings span 12 league tables, covering both volume and value across all digital infrastructure loans and dedicated data center loan transactions. Institutions are ranked across key roles including Bookrunner, Arranger and Legal Advisor, with 20 leading firms recognized in each category.

Key Highlights

• Sumitomo Mitsui Banking Corporation (SMBC) ranks as leader across all lender league tables
• MUFG and JPMorgan consistently rank in top three across multiple lending categories
• Milbank dominates the legal advisory rankings

The launch of the US Loans League Tables reflects the accelerating scale and sophistication of the digital infrastructure financing market, driven by sustained investment in data centers, fiber networks, and next-generation connectivity platforms. As capital requirements rise alongside demand from cloud, AI and enterprise digitalization, debt markets have become an increasingly critical component of infrastructure funding strategies.

TMT Finance's league tables are built using proprietary deal intelligence and market data, providing a structured view of lending and advisory activity in a segment where reliable benchmarking has historically been limited. By ranking bookrunners, arrangers and legal advisers across both broad digital infrastructure and specialist datacentre transactions, the tables highlight the institutions most actively shaping the sector's capital flows.

The 2025 edition represents the first phase of a broader expansion of TMT Finance's debt market coverage. The company will publish H1 2026 Loans League Tables for both the US and Europe in H1, with plans to roll out league table coverage to APAC and additional geographies through 2026.

Ben Nice, Chief Content Officer, TMT Finance, said: "We are delighted to launch these league tables, which reflect the depth of our expanded data coverage across the US digital infrastructure loans market. Our deep sector relationships and access to proprietary intelligence enable us to provide robust benchmarking across lenders, advisors, deal values, pricing and key financial metrics — an important milestone in delivering greater insight and value to our global community of lenders, investors, advisors and company executives."

Maisie Clarke, Editor, Head of Debt Coverage, TMT Finance, said: "Of the nearly US$133bn of deals tracked across the 2025 league tables, just over US$106bn came from datacentre financings across 57 transactions, representing close to an 80% market share. With TMT Finance data showing Q4 2025 as the busiest quarter of the year by value, we expect this momentum to continue into 2026. Our Loans Pipeline Tracker is currently showing 62 deals valued at a combined US$162bn, so it will be interesting to see how the league tables evolve in the H1 2026 rankings."

To request access to the full US Loans League Tables report, contact Maisie Clarke at maisie.clarke@tmtfinance.com

Institutions wishing to submit transaction data for future editions can do so via loansdata@tmtfinance.com

About TMT Finance

TMT Finance is the leading source of data and intelligence on M&A, financing, and investment in global digital infrastructure. We equip investment bankers, investors, industry executives, and advisors with actionable insights.

Founded in 2009 with a mission to support the growth of the digital infrastructure powering our connected world, we bring together essential intelligence, data, and industry leaders to help executives make smarter decisions, faster.

Today, we deliver the sector's leading global business intelligence service - connecting dealmakers with high‑value investment and advisory opportunities in digital infrastructure worldwide.

Your radar for deals in digital infrastructure: www.tmtfinance.com

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