Microsoft-Tied Data Center Bond Sale Draws $12.5 Billion Demand

Blackstone Inc.-backed QTS drew about $12.5 billion of peak demand for a debut high-grade bond sale that will help fund a Microsoft Corp.-tied data center, according to people familiar with the matter.

Proceeds from the $4.6 billion offering will go toward refinancing credit facilities tied to a massive data center QTS is developing in Fayetteville, Georgia, as well as other uses including payouts, according to Moody’s Ratings. The project will house thousands of servers for companies such as Microsoft, which has signed on as a tenant.