ING puts $500 million of data center loans up for sale

Dutch lender ING is putting up for sale about $500 million portfolio of data center loans all at once, Bloomberg News reported on Thursday, citing people familiar with the matter.

This includes a $25 million loan tied to a large New Mexico data center that forms part of the Stargate artificial intelligence infrastructure venture backed by OpenAI, SoftBank Group and Oracle, the report said.

The bank is taking bids for a dozen loans through a so-called bids-wanted-in-competition process, according to the report.