Unnamed seller auctions about $500m of data-centre loans, including a Stargate New Mexico piece
Bloomberg, via O Globo, says a dozen loans including a $25m slice of financing for the Stargate site in New Mexico and debt tied to Vantage and CyrusOne are offered, with bids due 19 November; the seller is not named.
Why it matters
A single auction made up only of data-centre loans is unusual, and its timing days after the midterms gives credit markets a price signal on AI infrastructure risk. Including a slice of the New Mexico Stargate financing, where Oracle sent a force majeure notice, ties it to the most watched project. The test is the bids due 19 November: deep discounts would show lenders repricing the buildout, near-par fills would not.
Key facts
- About $500 million in a dozen loans
- $25 million slice of Stargate New Mexico financing
- Debt tied to Vantage and CyrusOne
- Bids due 19 November, minimum $10 million