By Davide Barbuscia, Caleb Mutua and Natalie Wong
Publication Date: 2026-04-25 00:00:00
(Bloomberg) — A $16 billion financing for a massive data center from Oracle Corp. in Michigan has been completed after months of stop-and-start negotiations with investors.
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Bank of America Corp. sold, according to a statement from data center developer Related Digital. $14 billion in bonds tied to the project as part of a debt sale backed by Pacific Investment Management Co.
Pimco bought about $10 billion of the bonds, which were priced on Friday, while other investors bought the rest of the debt, according to insiders who spoke on condition of anonymity because they are not authorized to speak publicly.
The debt is part of a larger $16 billion financing package to finance the data center in Saline Township in southeastern Michigan. Oracle is a tenant and intends to use the campus to run applications for OpenAI, Bloomberg reported.
The financing includes equity from Related Digital and Blackstone affiliated funds…
