Wall Street tests lender appetite with $60 billion Broadcom-Anthropic deal - FT

What happened: Bank of America, Citigroup, and Morgan Stanley began syndicating a record $60 billion debt package to back Anthropic's lease of Google semiconductors, per the Financial Times. Key numbers: $60 billion total package. $42 billion senior secured loans backed by Broadcom's A-minus rating. $18 billion junior tranche. Why it matters: The deal is seen as a gauge of debt market appetite for capital-intensive AI ventures as fixed-income investors demand higher risk premiums. Underwriters may wait for Anthropic's planned IPO before tapping broader markets.

Bank of America, Citigroup, and Morgan Stanley began syndicating a record $60 billion debt package to back Anthropic's lease of Google semiconductors, per the Financial Times.

The deal is seen as a gauge of debt market appetite for capital-intensive AI ventures as fixed-income investors demand higher risk premiums. Underwriters may wait for Anthropic's planned IPO before tapping broader markets.