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Lenders Pause on $4B Lancaster AI Data Center as Blue Owl Fails to Secure Debt
business5 days ago

Lenders Pause on $4B Lancaster AI Data Center as Blue Owl Fails to Secure Debt

Blue Owl Capital could not arrange debt financing for a $4 billion AI-focused data center in Lancaster, PA co-developed with CoreWeave, with lenders citing CoreWeave’s below-investment-grade credit (B+). Blue Owl has about $500 million in bridge financing due by March 2026; if new debt isn’t secured, the project could face substantial construction costs despite Blue Owl’s assertion that the development is fully funded and on track. The financing hiccup highlights the rising risk in funding hyperscale AI infrastructure.

via Business Insider|
#ai#blue-owl-capital#business
Rays pledge to fund at least half the cost of new Tampa stadium amid Hillsborough funding talks
business22 days ago

Rays pledge to fund at least half the cost of new Tampa stadium amid Hillsborough funding talks

The Tampa Bay Rays say they will cover a minimum of 50% of a new Hillsborough County ballpark’s construction costs (including overruns and ongoing maintenance) in exchange for public funding that could cover up to 50% from sources like tourism taxes, hotel taxes, a Community Investment Tax, a nearby development district, and other local fees; the planned stadium near Hillsborough College on Dale Mabry could cost about $2.3 billion, with terms not yet finalized and a county meeting scheduled to discuss a term sheet. The Rays would bear all financial risk and guarantees, with potential state involvement to be determined.

via Tampa Bay Times|
#business#financing#hillsborough
Oracle Lines Up $45-50B Financing Drive to Grow Cloud Infrastructure in 2026
business24 days ago

Oracle Lines Up $45-50B Financing Drive to Grow Cloud Infrastructure in 2026

Oracle announced a calendar-year 2026 plan to raise $45-$50 billion through a balanced mix of debt and equity—including an ATM equity program and mandatory convertible preferred securities—to fund expansion of its Oracle Cloud Infrastructure, with a one-time senior unsecured bond issue early in 2026 and no additional bonds that year, aiming to maintain an investment-grade balance sheet as it serves large cloud customers.

via PR Newswire|
#business#cloud-infrastructure#debt
Waymo targets $16B funding round at roughly $110B valuation
business24 days ago

Waymo targets $16B funding round at roughly $110B valuation

Alphabet unit Waymo is seeking about $16 billion in a financing round that would value it at around $110 billion, with Alphabet contributing about $13 billion and other investors including Sequoia Capital, DST Global and Dragoneer Investment Group. The move follows reports of a $100+ billion valuation and highlights the race to commercialize autonomous robotaxi services, even as regulators open a safety investigation after a Waymo vehicle struck a child in Santa Monica.

via Reuters|
#alphabet#autonomous-vehicles#business
Saks Bond Debacle Delivers Penny-Price Lessons to Hedge Funds
markets1 month ago

Saks Bond Debacle Delivers Penny-Price Lessons to Hedge Funds

Saks Global Enterprises filed for Chapter 11 after a cash bleed from its Neiman Marcus deal, leaving distressed bonds once snapped up by hedge funds trading at pennies on the dollar. The post-bankruptcy financing package totals about $1.75 billion (including $1.5 billion from senior secured lenders), which could support a turnaround, but recoveries for unsecured creditors and equity holders remain highly uncertain as lenders weigh their bets and challengers like Amazon push back on funding access. This episode underscores the risk of “catching a falling knife” in debt markets.

via Bloomberg.com|
#bankruptcy#bonds#financing
Amazon challenges Saks bankruptcy financing, says its stake is effectively worthless
business1 month ago

Amazon challenges Saks bankruptcy financing, says its stake is effectively worthless

Amazon asked a U.S. judge to reject Saks Global’s bankruptcy financing plan, arguing Saks’ $475 million equity stake in the Neiman Marcus deal is effectively worthless, and that the plan would saddle more debt on Saks while pushing Amazon lower in repayment. It warned of possible drastic remedies, including appointing an examiner or trustee. Saks won court approval to tap $1.75 billion in new financing to avoid liquidation as the Chapter 11 case proceeds in Houston.

via CNBC|
#amazon#bankruptcy#business
Judge OKs Saks DIP Financing Amid Amazon Challenge
business1 month ago

Judge OKs Saks DIP Financing Amid Amazon Challenge

A U.S. judge approved about $400 million in DIP financing for Saks Global Enterprises as part of its Chapter 11 case, enabling a short-term cash infusion while a larger $1.75 billion package awaits final approval. Amazon argued Saks breached a deal to sell Saks products on Amazon and that its equity stake is presumptively worthless; Saks contends the financing is essential to avoid liquidation and keep vendors and payroll funded as the case proceeds. The creditors may appeal or seek adjustments to the deal in subsequent hearings.

via Bloomberg.com|
#amazon#bankruptcy#business
Saks Global pivots to Chapter 11 amid debt-laden luxury retail merger
business1 month ago

Saks Global pivots to Chapter 11 amid debt-laden luxury retail merger

Saks Global filed for Chapter 11 bankruptcy to restructure after a leveraged merger that combined Saks Fifth Avenue, Bergdorf Goodman and Neiman Marcus left the company overextended with debt; stores remain open as it secures a $1.75 billion financing package, including a $1 billion debtor-in-possession loan and a $240 million asset-backed facility, with further access of up to $500 million after exit. Geoffroy van Raemdonck will take over as CEO, while unsecured creditors include Chanel, Kering's Gucci, and LVMH; the deal was funded by investors including Amazon and Authentic Brands, following leadership shakeups and asset sales that underscored ongoing struggles in the luxury retail sector.

via The Guardian|
#bankruptcy#business#financing
Applied Digital Shares Surge on Strong Q2 Results and Expansion Talks
business1 month ago

Applied Digital Shares Surge on Strong Q2 Results and Expansion Talks

Applied Digital reported a significant increase in revenue to $126.6 million, a 250% rise year-over-year, and reduced net losses, highlighting progress in their data center projects and strategic financing efforts, including a $2.35 billion private notes offering and new lease agreements with hyperscalers, positioning the company for substantial growth in AI infrastructure.

via Applied Digital Corporation (APLD)|
#ai-infrastructure#applied-digital#business
Netflix Secures $25 Billion Credit for Warner Bros. Discovery Deal
business2 months ago

Netflix Secures $25 Billion Credit for Warner Bros. Discovery Deal

Netflix has refinanced part of its $59 billion bridge loan to support its potential acquisition of Warner Bros Discovery's assets, including film, TV studios, and streaming services, in a deal that is expected to close after Warner Bros spins off its Global Networks unit in 2026. The refinancing includes a $5 billion revolving credit and two $10 billion delayed-draw loans, with about $34 billion remaining to be syndicated. Netflix's bid was successful in a competitive auction, beating a higher cash offer from Paramount Skydance.

via Reuters|
#bridge-loan#business#financing
Paramount's Warner Bros. Bid Secured by $40 Billion Guarantee from Larry Ellison
business2 months ago

Paramount's Warner Bros. Bid Secured by $40 Billion Guarantee from Larry Ellison

Paramount has increased its hostile takeover bid for Warner Bros. Discovery, with Larry Ellison personally guaranteeing $40 billion of the $78 billion deal, amidst ongoing rejection from WBD's board and competition from Netflix. The bid includes a higher breakup fee and transparency about Ellison's family trust, but WBD's board and shareholders remain cautious, with the deal's future uncertain.

via CNN|
#business#financing#hostile-takeover