About 20 banks to provide $18B loan for Oracle-tied data center, Bloomberg says

A group of approximately 20 lenders is providing a roughly $18B project finance loan to help fund the building of a data center campus linked to Oracle (ORCL), marking the most recent massive debt deal to help fund the AI boom, Bloomberg’s Paula Seligson, Jeannine Amodeo, and Laura Benitez report. Sumitomo Mitsui (SMFG), BNP Paribas (BNPQY), Goldman Sachs (GS), and Mitsubishi UFJ Financial (MUFG) are administrative agents on the loan, the authors say, citing people with knowledge of the matter. The group has brought other banks into the fold, and will now sell the debt to additional firms and institutional investors in a retail syndication, with commitments due later this month, the authors note.