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PIMCO, BofA Near $14bn Deal to Fund Oracle’s Data Hub
April 8, 2026
Pacific Investment Management Co. (PIMCO) is in early talks with BofA to provide roughly $14bn in debt financing for a large Oracle data center in Michigan. The data center is intended to power OpenAI’s applications. Sources say the deal may be structured as a 144A bond with PIMCO potentially syndicating portions to other investors. BofA has been leading the financing effort for months on behalf of Related Digital, the project’s developer, and Blackstone is separately contributing around $2bn in equity. Oracle’s spokesperson confirmed that the company is making “rapid progress” on financing and developing the facility. This would be PIMCO’s second major data center financing in under a year. It recently led an $18bn debt package for Meta’s Hyperion data center in Louisiana alongside Blue Owl Capital. The Michigan project follows packages that lenders have assembled for other Oracle data centers, including a $38bn debt deal to build facilities in Texas, and $18bn for a site in New Mexico.
Oracle’s dollar bonds were trading stable with its 4.125% 2045s at 70.2, yielding 6.98%.
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