A group of banks including Natixis, Mitsubishi UFJ Financial Group, Societe Generale, Royal Bank of Canada, and Sumitomo Mitsui Banking Corp have begun marketing $3B in construction loans for Meta’s 1-gigawatt Prometheus data center cluster in New Albany, Ohio, structured as two tranches of $2.1B and $900M with four-year terms and pricing at 2.5 percentage points over the benchmark. The debt is being marketed to banks, institutional investors, and private credit lenders, with the syndication process expected to wrap up April 16. Prometheus is one of several massive data center projects Meta is building to support its AI ambitions, with CEO Mark Zuckerberg having pledged to spend hundreds of billions of dollars on AI infrastructure through the end of the decade.
