Based on information from individuals with insider knowledge of the situation, PIMCO is set to offload a part of the $14 billion debt financing it has allocated for Oracle's expansive data center project in Michigan. Situated in Saline Township, this project boasts a total financing scope of $16.3 billion. Around 15% of this sum stems from equity investments, while the lion's share is garnered through bonds issued by a dedicated special purpose entity. Bank of America is at the helm of this financing endeavor, with PIMCO serving as the lead investor. The deal is slated for finalization on April 17. Previous reports have highlighted Blackstone Group's intention to inject roughly $2 billion in equity. In light of these developments, spokespersons for both PIMCO and Bank of America refrained from making any statements, and Blackstone representatives remained unresponsive. Oracle, for its part, voiced its satisfaction with the project's financing and the strides made in its construction.
