BlockBeats news, on October 6, according to the Financial Times, Bank of America, Citigroup, and Morgan Stanley began distributing portions of a $60 billion debt financing to other banks starting Monday. The financing will support Anthropic’s leasing of Google chips to secure AI computing power, setting a record for the largest chip-related financing transaction. The three banks had previously committed to fund this deal.
The financing package includes approximately $42 billion in senior secured loans backed by Broadcom, which has already launched syndicated distribution. Leveraging Broadcom’s A-rated credit rating, this portion of debt may later be sold through private placements or the investment-grade bond market. An additional $18 billion in unsecured subordinated debt, not guaranteed by Broadcom, will be launched later, with Blackstone committed to providing approximately $9 billion in funding for this tranche.
The related funds will be used for Anthropic’s chip orders in 2027, with lease payments commencing after chip delivery. Since the lenders of the subordinated debt will directly assume Anthropic’s credit risk, the bank may wait until its planned IPO is completed before promoting the offering to the market, allowing investors greater financial disclosure. The transaction is viewed as a key indicator of market demand for AI-related debt financing.