Bank of America Advises on $16B Oracle Data Center Financing in Michigan
Bank of America served as structuring agent and financial advisor for the $16B financing of Related Digital’s Oracle data center campus in Saline Township, Michigan, combining equity from Related Digital and Blackstone with PIMCO-anchored fixed-rate debt. The project will create over 2,500 union construction jobs and 450 onsite positions.
1. BAC’s Advisory Role
Bank of America acted as the structuring agent and primary financial advisor for the $16 billion capital raise, coordinating between Related Digital, Blackstone-affiliated equity providers and PIMCO-managed debt investors. This high-profile mandate underscores the bank’s leadership in large-scale infrastructure financing and its relationships with major private equity and asset management clients.
2. Financing Structure
The financing package combines equity contributions from Related Digital and Blackstone with long-term, fixed-rate debt anchored by PIMCO-managed funds and accounts. Goldman Sachs and Wells Fargo served as additional advisors, while DTE Energy’s grid enhancements and a new battery storage investment financed by Oracle will supply 100% of the campus’s power.
3. Project Scope and Economic Impact
The Saline Township campus—nicknamed “The Barn”—features three single-story data center buildings with over one gigawatt of capacity, built for Oracle’s AI partnership with OpenAI. Construction is on schedule, with more than 2,500 union construction jobs, 450 onsite positions and substantial community benefits including millions in annual tax revenues and preservation of 750 acres of open space.