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Dutch bank ING is reportedly offering a portfolio of data center loans valued at approximately $500 million for sale. According to reports from Bloomberg News, the bank is soliciting bids for roughly a dozen loans through a competitive process known as "bids-wanted-in-competition." The portfolio includes a $25 million loan tied to a large data center in New Mexico, which is part of the Stargate artificial intelligence infrastructure project backed by OpenAI, SoftBank Group, and Oracle. Additionally, the portfolio contains debt associated with data center operators Vantage Data Centers and CyrusOne. Interested parties are expected to submit offers by November 19, with a minimum bid size set at $10 million. This development follows a period of market volatility that impacted chip manufacturers and "neocloud" companies. Market analysts have noted that concerns regarding potential regulatory tightening in the technology sector have contributed to broader fluctuations in the S&P 500, with several data center operators experiencing significant declines in share value. Reuters reported that it could not immediately verify the details of the sale, and ING did not immediately respond to a request for comment outside of standard business hours. Article source: 24 Orë | Image credit: 24 Orë
Dutch bank ING is reportedly offering a portfolio of data center loans valued at approximately $500 million for sale. According to reports from Bloomberg News, the bank is soliciting bids for roughly a dozen loans through a competitive process known as “bids-wanted-in-competition.” The portfolio includes a $25 million loan tied to a large data center in New Mexico, which is part of the Stargate artificial intelligence infrastructure project backed by OpenAI, SoftBank Group, and Oracle. Additionally, the portfolio contains debt associated with data center operators Vantage Data Centers and CyrusOne. Interested parties are expected to submit offers by November 19, with a minimum bid size set at $10 million. This development follows a period of market volatility that impacted chip manufacturers and “neocloud” companies. Market analysts have noted that concerns regarding potential regulatory tightening in the technology sector have contributed to broader fluctuations in the S&P 500, with several data center operators experiencing significant declines in share value. Reuters reported that it could not immediately verify the details of the sale, and ING did not immediately respond to a request for comment outside of standard business hours.
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