Morgan Stanley Delays $15 Billion Data Center Bond Sale

Morgan Stanley and a group of lenders delayed the sale of high-yield bonds intended to refinance a $15 billion loan for a data center linked to Anthropic in Hubbard, Texas. The banks originally planned to offload between $5 billion and $7 billion of the debt in September, but the sale will now be staggered over the next year.

The delay follows a decision by Texas Governor Greg Abbott to place a hold on new projects to assess risks to the state's power grid. This regulatory freeze forces the lenders to keep the debt on their balance sheets longer than they had anticipated.