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• Pulled dealsflashingeasing

  Data center financing reported frozen after the CoreWeave rout

  IFR says the CoreWeave rout froze data center financing, after Firmus, SB Energy and AirTrunk shelved IPOs in the month to Oct 16. Search snippets add a $6B Bridge Data Centres loan for Thailand put on hold Oct 13 because of a national construction pause (unverified). Some deals still clear, like Nebius's $3.5B 364-day facility.

  IFR: CoreWeave rout freezes data centre financing · Oct 23, 2026

• Bank lines to fundscalmeasing

  Banks raising back-leverage costs and marking down collateral

  JPMorgan, Goldman and Barclays are reportedly charging more on back-leverage and marking down pledged loans, with spreads going from about 175bp to as much as 200bp over SOFR. But FRED's H.8 data shows bank loans to nonbanks still growing, to $2,105.8B on Oct 14 from $2,054.3B on Sept 9, and July's loan officer survey had net tightening at 0%. No outright line cuts.

  Troutman Pepper Locke: banks are pulling back · Oct 15, 2026

• Downgrades and insurer exposurewatchsteady

  Rules tightening on $1.2T of insurer private credit; no downgrade wave yet

  The NAIC set a 45% capital charge on residual interests and can now override private letter ratings that are three or more notches off. Nearly half of 2026 data center bonds are junk. Still no downgrade wave or insurer fire sale found.

  Insurance Business: NAIC targets $1.2T in insurer private credit · Oct 15, 2026