Pimco mulls $14B debt financing for Oracle data center, Bloomberg reports

Pacific Investment Management Co., or Pimco, is in discussions with Bank of America (BAC) to help provide about $14B of debt financing to construct a massive Oracle (ORCL) data center in Michigan, Bloomberg’s Laura Benitez reports, citing people familiar with the matter. The deal, if completed, would make the bond giant a significant backer of a data center campus in Saline Township, where the tech giant seeks to power applications for Microsoft-backed (MSFT) OpenAI, the author notes. The financing could be structured as a bond, and the investment manager could syndicate some to other investors, the author says, noting that talks are still in early stages.