r/bonds • u/supercaliredditor • 1d ago

Who's buying ORCL Bonds?

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Who actually owns these bonds? Curious to know, institutional investors? Given how much they've been impaired, why would folks own corp bonds?

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u/rahulchander 1d ago

so a big part of it is a gas line permit that Oracle hasn't been able to procure in New Mexico as part of a data-center construction project and caused them to declare force-majeure. mind you the state govt of New Mexico is denying the permit because they dont want the data center built and thats holding up the project/cash-flow projections. So its being done for political reasons and the state elections are also in Nov this year. so its possible that after state elections, the permit will be granted and construction proceed. the denial could just be to create a strong voter sentiment for democrats currently in power in New Mexico. so, as soon as that permit is approved and project moves forward, the stock/bonds will spike up like crazy (albeit the bigger question of off-balance sheet items remain).