ING is reportedly seeking buyers for a portfolio of 12 data center loans worth around $500 million, joining a broader push by banks to distribute credit risk tied to the artificial intelligence infrastructure build-out. The auction is said to include a $25 million piece linked to the Stargate project in New Mexico, which involves OpenAI, SoftBank and Oracle , as well as certain other loan assets involving Vantage Data Centers and CyrusOne, Bloomberg reported Friday, citing people familiar with the matter. ING will hold a bids-wanted-in-competition, or BWIC, auction process, with bids sized at $10 million or more due by Nov. 19, according to Bloomberg. A BWIC is a competitive process for investors to bid on pieces of a loan portfolio.
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