Eagle Point Credit Delivers $1.3B Financing for Texas AI Data Center Linked to Anthropic

Key Highlights

• Eagle Point Credit Management has closed a $1.3 billion private credit facility for a Texas-based AI data center featuring Anthropic as anchor tenant
• This financing represents a component of an extensive $16 billion project-finance arrangement for Nexus Data Centers
• The development spans 2,900 acres in Hubbard, Texas, positioned approximately 70 miles south of Dallas
• Google has provided a guarantee for the senior debt component, streamlining the financing process
• Morgan Stanley heads the comprehensive financing syndicate along with additional financial institutions

Eagle Point Credit Management has finalized a $1.3 billion private credit facility supporting an artificial intelligence data center in Hubbard, Texas. Nexus Data Centers is spearheading the development, with Anthropic secured as the facility’s anchor tenant.

This substantial loan forms one piece of a significantly larger $16 billion project-finance arrangement. Nexus intends to deploy these funds toward completing a sprawling 2,900-acre complex that will feature a dedicated gas-fired power generation facility.

Eagle Point holds the position of largest individual investor in this loan arrangement. The debt has been organized as mezzanine financing, positioning it beneath the more secure senior tranches within the overall capital structure.

Based in Greenwich, Connecticut, the investment firm was established in 2012 by Thomas Majewski alongside Stone Point Capital. The company currently oversees approximately $14 billion in assets under management.

Eagle Point initially commenced discussions regarding financing for Nexus during September 2025. During that early phase, the firm was evaluating approximately $150 million in senior secured debt backed by property Nexus had purchased in Hubbard.

Evolution of the Financing Structure

Throughout subsequent months, both the scale and complexity of the financing arrangement expanded on multiple occasions. The mezzanine component of the transaction reached financial close recently, based on a statement reviewed by Bloomberg.

The transaction gained momentum following two critical developments. Anthropic emerged victorious from a competitive selection process to secure primary tenant status, while Google committed to guaranteeing the senior debt obligations.

Google has provided debt payment guarantees for multiple data center facilities throughout the United States. Such guarantees typically encourage investors to commit substantial capital, although this approach also creates concentrated financial exposure.

Morgan Stanley serves as the lead arranger for the broader bank-syndicated financing package. Earlier during August, industry reports suggested a banking consortium was positioning to distribute approximately $15 billion in debt associated with this Google-backed facility.

Future Outlook

The Hubbard development represents Nexus’s inaugural construction project. It will rank among the most substantial data center complexes under construction nationwide to accommodate escalating demand from artificial intelligence enterprises.

Data center developers commonly retire construction financing by issuing replacement debt following project completion. One potential scenario involves Nexus pursuing high-yield bond issuance later during the current year to refinance the bank-led financing component.

Such a refinancing approach would necessitate Nexus securing a credit rating from recognized agencies. No official timeline has been publicly disclosed to date.

Anthropic’s annualized revenue has surpassed $65 billion as the company contemplates a potential initial public offering. The artificial intelligence company did not provide responses to comment requests submitted outside standard business hours.

A spokesperson for Nexus similarly declined to provide commentary. Eagle Point has refrained from issuing public statements beyond confirming the deal’s successful closing.

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