Related Digital and Blackstone secure $16 billion to build Oracle's Michigan AI data center

PIMCO anchored about $10 billion of the $14 billion bond sale, which will fund a 1-gigawatt campus in Saline Township built for Oracle and OpenAI

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Related Digital and Blackstone announced April 24 that they have secured $16 billion in financing for a data center campus in Saline Township, Michigan, built for Oracle $ORCL. The financing includes equity from Related Digital and funds affiliated with Blackstone, along with fixed-rate, long-term debt anchored by PIMCO-managed funds and accounts.

Bank of America $BAC sold $14 billion in bonds tied to the project, according to Bloomberg. Of the bonds priced Friday, roughly $10 billion went to PIMCO, with the balance taken up by other investors, Bloomberg reported. Bloomberg reported that the bonds were issued with a 7.5% coupon, priced at........

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