PremiumStuck With The Bridge: Banks Shelve Junk Bond Sale For Anthropic's $15 Billion Texas Data Center After Abbott Freeze
Another day, another data center suddenly finds itself without funding.
This time the casualty is a $15 billion bank loan with Anthropic's name on it. According to Bloomberg, banks have delayed plans to offload part of a $15 billion loan funding a data center tied to Anthropic in Hubbard, Texas (near Waco), after the state put a hold on new projects while it assesses the risks to its power grid. The lenders, led by Morgan Stanley, had hoped to sell $5 billion to $7 billion of high-yield bonds in September to refinance part of the loan. Instead, the sales "may now be staggered over the next year," leaving the banks holding the debt on their balance sheets far longer than they planned.