Banks Lend $18 Billion for Oracle-Tied Data Center in New Mexico

A group of about 20 banks is providing a roughly $18 billion project finance loan to help fund the construction of a data center campus tied to Oracle Corp., marking the latest mega debt deal to help bankroll the artificial intelligence boom.

Sumitomo Mitsui Banking Corp, BNP Paribas SA, Goldman Sachs Group Inc. and Mitsubishi UFJ Financial Group are administrative agents on the deal, according to people with knowledge of the matter, who asked not to be named discussing a private transaction. The quartet has brought other banks into the fold, and will now sell the debt ...