Oracle anchors $16.3B data‑centre debt

Related Digital said on April 24 that it secured financing for a $16 billion data-center campus in Saline Township, Michigan, being built for Oracle. (related.com) (reuters.com) The package combines equity from Related Digital and funds affiliated with Blackstone with fixed-rate, long-term debt anchored by PIMCO-managed funds and accounts. Bank of America served as structuring agent and financial adviser, while Goldman Sachs and Wells Fargo also advised Related Digital. (related.com) Bloomberg reported Bank of America sold about $14 billion of bonds tied to the project and PIMCO bought roughly $10 billion of the debt that priced Friday, with other investors taking the rest. Reuters cited that reporting and said PIMCO declined to comment. (finance.yahoo.com) (reuters.com) The site is designed as a hyperscale campus, meaning a giant cluster of server buildings built to handle vast computing loads for cloud and artificial-intelligence work. Business Insider reported the Saline campus is planned to deliver more than 1 gigawatt of electricity capacity, placing it among the largest data-center projects in the country. (businessinsider.com) This Michigan project sits inside Oracle’s broader push to build infrastructure for OpenAI. Bloomberg reported on April 1 that the financing follows other debt packages assembled for Oracle data centers, including $38 billion for Texas and Wisconsin and $18 billion for a New Mexico site. (finance.yahoo.com) Related Digital said in October that the Saline Township campus would be developed exclusively for Oracle and would support OpenAI as part of Stargate. Reuters reported construction on the Michigan site began in February. (datacenterdynamics.com) (reuters.com) The financing also closes a chapter of local uncertainty around the campus. Bisnow reported township land-use disputes and neighborhood opposition had weighed on the project before a late-2025 agreement cleared the way for financing to resume. (bisnow.com) Related Digital said the project is expected to create more than 2,500 union construction jobs, more than 450 onsite jobs and more than 1,500 county-wide jobs, while preserving more than 750 acres of open space, farmland and wetlands. (related.com) The deal shows how the artificial-intelligence buildout is being financed less like ordinary corporate expansion and more like long-dated infrastructure. In Saline Township, Oracle’s next block of computing power is now tied to a bond market willing to fund server farms on utility-scale terms. (finance.yahoo.com) (related.com)