A $1.3bn Loan for Anthropic’s Texas Data Centre
Eagle Point Credit Management is lending approximately $1.3 billion towards a 2,900-acre Artificial Intelligence (AI) data centre in Hubbard, Texas, which will be anchored by Anthropic, according to Bloomberg. This is one of the latest large deals fuelling the AI boom.
The Deal and Its Context
The loan forms part of a substantial $16 billion project-finance package for Nexus Data Centers, as revealed by a source close to the project to Bloomberg. Nexus will utilise these funds to complete their 2,900-acre campus located approximately 70 miles south of Dallas. Anthropic, an AI lab, will serve as the primary tenant.
Unique Aspects of the Loan
The loan stands out due to its size and structure:
- Mezzanine Financing: It is considered mezzanine financing, carrying more risk than senior debt but typically offering a higher return to compensate.
- Power Generation: The campus will be equipped with its own gas-fired power plant, enabling it to generate electricity independently.
- Lead Lender’s Size: Eagle Point Credit Management, based in Greenwich, Connecticut, stands out as a notable lead lender given the dominance of larger Wall Street asset managers in jumbo private financing.
Process and Timeline
The loan evolved over several months:
- Eagle Point initially proposed a $150 million senior debt package backed by Hubbard land in September 2025.
- The deal size and structure were revised multiple times to reach the current agreement.
- Nexus made their final investment decision within under a year, which Eagle Point described as a "truly remarkable achievement."
Ivan Van der Walt, CEO of Nexus, highlighted Eagle Point’s support throughout the project’s four financing stages.