Oracle Financial Services drops on report about parent's $18 bln data center loan concerns
ORCL•Year-to-date performance
YTD, the stock is up about 45% versus the IT index's 24.3% drop.
Shares fall on parent loan concerns
Oracle Financial Services Software ORCL.NS was down 6.4% at 11,131 rupees, its lowest level since July 31.
The stock was on track for its worst day since July 22 and was the top loser on the IT index .NIFTYIT, which was down 0.7%.
FT report highlights pressure on data center loans
About $18 billion in loans tied to parent Oracle's ORCL.N leased data center in New Mexico has come under pressure, with loans quoted at 89 to 91 cents on the dollar by syndicate banks including Santander and Jefferies, the Financial Times reported on Friday.
Oracle, Santander and Jefferies did not respond to Reuters requests for comment at the time of the report.
