Oracle data center $16 billion financing gets over the line

[https://finance.yahoo.com/news/oracle-data-center-16-billion-000012707.html/?err=1](https://finance.yahoo.com/news/oracle-data-center-16-billion-000012707.html/?err=1) Bank of America Corp. sold $14 billion of bonds tied to the project, in a debt sale that was anchored by Pacific Investment Management Co., according to a statement by the data center developer Related Digital. Pimco bought about $10 billion of the bonds that priced Friday, 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 in southeastern Michigan. Oracle is the tenant and aims to use the campus to power applications for OpenAI, Bloomberg has reported. 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. The bonds were sold privately in a 144A offering, meaning they can only be bought by large institutional investors, the people said. The notes, which mature in 2045, were priced at 98.75 cents on the dollar and carry a 7.5% coupon, according to some of the people and Bloomberg-compiled data.