Poste Italiane secured a €2.85 billion bridge loan for its acquisition of Telecom Italia. The 18-month facility was provided by a group of 17 banks and was the largest disclosed syndicated transaction in this week’s newsletter.
Elsewhere in Europe, Italian grid operator Terna refinanced a €2.3 billion revolving credit facility. In the US data-centre market, Lambda raised a $926 million term loan B secured by GPUs and client contracts.
| Borrower | Amount | Facility and purpose |
|---|---|---|
| Poste Italiane | €2.85bn | 18-month bridge for the acquisition of Telecom Italia; provided by 17 banks |
| Terna | €2.3bn | Refinancing of a revolving credit facility |
| Lambda | $926m | Term loan B secured by GPUs and client contracts |
| Techcombank | $1bn | Vietnamese bank in the market for an offshore loan |
AI infrastructure continues to cross financing markets
Lambda’s use of GPUs and client contracts as security is another example of AI infrastructure appearing across multiple parts of the debt capital markets. During the same week, public high-yield markets financed the Zenith Arc data-centre project with a $2.25 billion bond deal backed by a Jane Street lease.
At the larger end of the market, AI-related borrowers are continuing to seek financing structures that can expand available capacity. NVIDIA’s new vendor-financing platform and reported guarantee for an OpenAI data centre form part of the same broader buildout.
Market read: The week’s disclosed transactions span acquisition finance, corporate liquidity, AI infrastructure and emerging-market bank funding.
