Oracle Data Center Debt Under Pressure
Loans tied to an Oracle leased data center in New Mexico face pressure as local opposition grows over resource concerns. Banks are holding more project debt on balance sheets.
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ORACLE CORP debt tied to a 1,400-acre New Mexico data center fell to 89 to 91 cents on the dollar, threatening an $18 billion loan package. Syndicate banks including BANCO SANTANDER SA and JEFFERIES FINANCIAL GROUP IN are holding more debt than planned after syndication stalled.
