Banks are reported to be refinancing Anthropic's $15B Texas data-center loan via bond markets

The Financial Times reported on August 5 that a Morgan Stanley-led bank syndicate plans to refinance about $15 billion of debt tied to a roughly 2,000-acre, Google-backed data center in Hubbard, Texas leased to Anthropic, pushing the loans into the bond market after drawdown; the campus, developed by Nexus Data Centers and still under construction, will use Google TPU chips financed separately, Google's backstop becomes effective only after completion, ratings are expected to be speculative grade, and the project includes on-site natural-gas generation. The underlying $15 billion loan talks were first reported by WSJ on July 30, followed by Bloomberg and Reuters.