A mystery seller puts $500M of data center loans up for auction days after the midterms
The dozen-loan sale includes a $25M slice tied to the Stargate site in New Mexico where Oracle has already cited force majeure over power delays.
By Ryan Merket · Published
Primary source: www.bloomberg.com
Why it matters
The bids will give lenders and developers a market price for data center credit after an election that strengthened opponents of new campuses, and for a Stargate-linked loan whose tenant has already protected itself against power delays. That price will feed directly into the cost of financing the next round of AI campuses.
A roughly $500 million portfolio of data center loans has been put up for sale in a rare auction days after a Democratic sweep of the U.S. midterm elections, according to Bloomberg. The report describes a mystery seller putting up $500 million of loans backing Stargate and CyrusOne.…
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