Related Digital secures financing for $16 billion Oracle data centre in Michigan

Data centre developer Related Digital said on Friday it has secured financing for a $16 billion data centre campus it is building in Michigan for Oracle .

The financing ‌includes ⁠equity from ⁠Related Digital and funds affiliated with Blackstone, as well as fixed-rate, long-term debt financing anchored by PIMCO-managed funds and accounts, the company said.

PIMCO bought about $10 billion of the bonds that priced Friday, while other investors bought the remainder ⁠of the ‌debt, Bloomberg News reported, citing people familiar. PIMCO declined to comment to Reuters.