Oracle Secures $16B Financing for Saline Township Data Center Project

A $16 billion financing for a giant Oracle Corp. data center in Saline Township has wrapped after months of stop-and-start negotiations with investors.

Bank of America Corp. sold $14 billion of bonds tied to the project, in a debt sale that was anchored by Pacific Investment Management.

Pimco bought about $10 billion of the bonds that priced last week, while other investors bought the remainder of the debt, according to people with knowledge of the matter, who asked not to be identified because they’re not authorized to speak publicly.

The debt is part of a larger $16 billion financing package that will fund the data center in Saline Township near Ann Arbor. Oracle is the tenant and aims to use the campus to power applications for OpenAI, the creator of ChatGPT.

The financing includes equity from Related Digital and funds affiliated with Blackstone Inc. The latter contributed about $2 billion of the equity, Bloomberg previously reported.

Read more here: https://www.crainsdetroit.com/technology/cdb-saline-data-center-financing-20260425/

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