Pacific Investment Management Co. is negotiating $14 billion in debt financing for Oracle's data center development in Michigan, according to Bloomberg News. The deal involves partnership with Bank of America and could position PIMCO as a major backer of the Saline Township campus.
The financing structure may take a 144A format, allowing private bond sales to institutional investors rather than traditional bank loans. Oracle plans to raise up to $50 billion this year as its debt increases amid AI infrastructure expansion.
Data center developer Related Digital is separately pursuing $16 billion in financing for the same Oracle project. Oracle recently appointed Hilary Maxson as CFO, bringing infrastructure and energy expertise as the company accelerates AI and cloud service investments.