ING reportedly puts $500 million of data center loans up for sale
ING•ING is reportedly offering a portfolio of about $500 million in data center loans, including a $25 million loan tied to a New Mexico facility in the Stargate venture.
1. Loan portfolio for sale
ING is putting about $500 million in data center loans up for sale, with bids sought for a dozen loans through a bids-wanted-in-competition process. The portfolio includes a $25 million loan tied to a large New Mexico data center that is part of the Stargate AI infrastructure venture backed by OpenAI, SoftBank Group and Oracle.
2. Bids and market context
Bids are due November 19 and must be at least $10 million, the report said. The portfolio also includes debt linked to Vantage Data Centers and CyrusOne. The sale comes after a selloff that erased $3 trillion in value from S&P 500 companies; Applied Digital, Cipher Digital and IREN each fell more than 14%.
