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PIMCO weighs $14 billion debt deal for Oracle's Michigan data center, Bloomberg News reports

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April 7, 2026 3:30 PM EDT

Ticker and trading information for Pacific Investment Management Co. (PIMCO) are displayed on a screen at the New York Stock Exchange (NYSE) in New York, U.S., April 5, 2018. REUTERS/Brendan McDermid/File Photo

April 7 (Reuters) - Pacific Investment ‌Management Co. ​is ​in talks with the Bank of America to help provide roughly $14 billion of debt financing to build an ‌Oracle data center in Michigan, Bloomberg News reported on ⁠Tuesday, citing people familiar with the matter.

If finalised, the deal could make ‌PIMCO a key backer of ‌the Saline Township campus, the Bloomberg report said. The financing could be structured as a bond and the U.S. investment ​manager could syndicate some to other investors.

Investors have scrutinized Oracle's artificial intelligence infrastructure build-out as its debt climbs. In ⁠February, Oracle said it planned to raise as much as $50 billion this year through ​a combination of debt and equity sales.

PIMCO's financing could be structured in a 144A format, Bloomberg said.

A ​144A format is where involved parties ‌would raise debt by selling bonds privately to large institutional investors rather than through a conventional bank ⁠loan or a fully public bond offering.

Oracle said it has made "rapid progress" in financing and developing its data center in Saline Township, adding ⁠that the effort is moving forward on time and according to plan.

PIMCO ​did not immediately respond to Reuters' requests for comment, while BofA declined to comment.

Data center developer Related Digital is closing in on a $16 billion ‌financing for an Oracle data center in Saline Township, Reuters had reported last week.

Oracle named Hilary ‌Maxson as its chief financial officer on Monday, tapping an executive ⁠with deep experience in infrastructure ‌and energy as ​it ramps up investments to meet surging demand for AI and cloud services.

(Reporting by Juby Babu in ‌Mexico City)


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