Pimco Seeks to Sell Parts of $14 Billion Oracle Data Center Debt

Pacific Investment Management Co. is seeking to sell a portion of the $14 billion of debt financing it is providing for Oracle’s large Michigan data center, according to people with knowledge of the matter. The reported sale would syndicate part of Pimco’s exposure on a major infrastructure-backed corporate loan; the size ($14B) makes the move notable but routine for large project financings and unlikely to materially move markets.

Analysis

Pacific Investment Management Co. is seeking to sell a portion of the $14 billion of debt financing it is providing for Oracle’s large Michigan data center, according to people with knowledge of the matter. The reported sale would syndicate part of Pimco’s exposure on a major infrastructure-backed corporate loan; the size ($14B) makes the move notable but routine for large project financings and unlikely to materially move markets.