Oracle-Tied $38 Billion Debt Takes Months for Market to Swallow

It was an audacious bet by JPMorgan Chase & Co. and Mitsubishi UFJ Financial Group: Taking on a record-shattering $38 billion loan package backing new Oracle Corp. data center projects in Texas and Wisconsin.

That was back in August. Months later — and after more than two dozen banks and other investors joined to share the risk — they’re nearly done, according to people familiar with the matter. Some of the lenders are still looking to offload less than $1 billion, said one of the people, who asked not to be identified because the information is private.

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