银行计划最早明年初出售高达约210亿美元的高评级债券，这是博通公司（Broadcom Inc.）筹集的630亿美元融资方案的一部分，旨在帮助为人工智能开发商Anthropic PBC提供芯片融资。
Banks are planning to sell as much as about $21 billion of high-grade bonds as soon as early next year as part of a $63 billion funding package that Broadcom Inc. has pulled together to help finance chips for AI developer Anthropic PBC.
知情人士透𫕥，美国银行公司（Bank of America Corp.）、花旗集团（Citigroup Inc.）和摩根士丹利（Morgan Stanley）协助安排了这笔630亿美元的交易，其他银行预计将在未来几天提交承诺加入该集团。这些人士表示，银行将贷出约420亿美元，其中多达一半预计将在2027年第一季度在美国高评级企业债券市场再融资。他们要求不具名，因为未获授权公开发表评论。
Bank of America Corp., Citigroup Inc., and Morgan Stanley helped to arrange the $63 billion deal and other banks are expected to submit commitments to join the group in the coming days, according to people with knowledge of the matter. The banks are lending about $42 billion of the amount, as much as half of which is expected to be refinanced in the US high-grade corporate bond market in the first quarter of 2027, they said, asking not to be identified because they’re not authorized to speak publicly.
这笔融资受到华尔街和硅谷的密切关注，银行家和科技高管正在寻求保证，投资者仍渴望为人工智能项目提供贷款。尽管公司今年在全球市场上成功借款超过4550亿美元用于人工智能相关支出，但迹象表明，资产管理人对投资此类债务越来越谨慎，因为未来可能还有更多此类债务。
The financing is being closely watched across Wall Street and Silicon Valley as bankers and tech executives look for assurance that investors are still eager to lend to artificial intelligence projects. While companies have managed to borrow more than $455 billion across markets globally to fund AI-related spending this year, there are signs that money managers are growing warier of investing in the debt, given how much more could be coming.
这笔交易旨在帮助人工智能模型开发商Anthropic支付包括数据中心芯片在内的设备费用，博通本质上提供供应商融资。知情人士表示，该交易设立为一家特殊目的公司，该公司借款购买技术，再将技术租给Anthropic，Anthropic的租赁付款将用于偿还债务。
The transaction is meant to help AI model maker Anthropic pay for equipment including chips for data centers, with Broadcom essentially offering vendor financing. It’s set up as a special purpose company, which is borrowing the money to pay for the technology, which it will lease to Anthropic, whose lease payments will in turn pay off the debt, the people said.
知情人士表示，这笔债务中的420亿美元部分为优先有担保债务，意味着贷款人对特殊目的公司的资产拥有优先索取权。博通为该部分债务提供残值支持——一种财务担保。知情人士之一表示，银行已为这笔630亿美元融资中的优先有担保部分承销。
The $42 billion portion of the debt is senior secured, meaning lenders have a first claim on the assets of the special purpose company, the people said. Broadcom is providing residual value support — a type of financial backstop — for that portion of the debt. Banks have underwritten the senior secured tranche of the $63 billion financing, said one of the people.
最终发行的债券可能在约五年后到期，债务本金可能在票据期限内分期偿还。债券发行的最终规模和时间将取决于市场情况，相关人士表示。
The bonds that are ultimately sold will probably mature in around five years, and principal on the debt will likely be repaid over the life of the notes. The final size of the bond issuance, and the timing, will depend on market conditions, said the person.
据彭博社此前报道，黑石集团正为其余融资提供锚定，承诺提供90亿美元。博通、黑石、美国银行、花旗和摩根士丹利的代表均拒绝置评。
Blackstone Inc. is anchoring the rest of the financing, committing $9 billion, Bloomberg previously reported. Representatives for Broadcom, Blackstone, Bank of America, Citi, and Morgan Stanley all declined to comment.
此次交易是博通今年第二笔大型芯片融资方案，继与阿波罗全球管理公司和黑石集团合作的350亿美元交易之后。
The deal is Broadcom’s second large chip financing package this year, following a $35 billion transaction involving Apollo Global Management Inc. and Blackstone.
另有消息称，埃隆·马斯克的SpaceX本月与阿波罗签署了一项约400亿美元的设备融资租赁，用于支付其人工智能计划所需的芯片费用。
In a separate development, Elon Musk’s SpaceX this month signed a roughly $40 billion equipment-finance lease with Apollo to pay for the chips needed to fuel its AI ambitions.