The $63B financing package utilizes a special-purpose vehicle funded by Blackstone, Bank of America, Morgan Stanley and Citigroup to buy AI accelerators and networking gear to lease to Anthropic. Blackstone is providing the $9B junior debt tranche for the deal, which carries a yield exceeding 10%—roughly double the 5.75% rate seen on the senior debt portion of a similar financing arrangement in June. Bank of America and the other lenders plan to sell about $22B in investment-grade bonds once the hardware deliveries begin in 2027.
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Broadcom's Hock Tan Clinches $63B Anthropic Loan After Banks Balk at Risk
AI2 hours ago
The chief executive of Broadcom held a series of emergency negotiations over the weekend to prevent several financial institutions from withdrawing from a new debt facility for Anthropic. Hock Tan reached a deal with lenders by agreeing to increase interest rates and provide stronger loan guarantees, ending nearly two months of resistance from banks that had balked at committing more than $40 billion to the loan.
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