Pacific Investment Management Company intends to sell a portion of the assets in the $14 billion debt it provided for Oracle's data center.

According to sources familiar with the matter, Pacific Investment Management Company is seeking to sell a portion of the $14 billion debt financing it provided to Oracle Corporation for a large data center project in Michigan. The proposed transaction terms seen by the aforementioned sources and media show that the project in Saline town will have a total financing size of $16.3 billion, with about 15% in equity investment, and the remaining funds raised through the issuance of bonds by a special purpose company. The terms document indicates that the financing is led by Bank of America, with Pacific Investment Management Company as the main investor, and is expected to be completed on April 17. It was previously reported by the media that Blackstone Group plans to invest around $2 billion in equity in the project. Spokespersons for Pacific Investment Management Company and Bank of America declined to comment, while representatives from Blackstone Group did not immediately respond to requests for comment. Oracle stated, "The company is proud of the rapid progress made in financing and developing the Saline town data center project."