AI Infrastructure — To spend or not to spend, that is the question

Why funding Treasury buybacks from the General Account edges closer to QE

Long-dated Treasury yields fell on 24 August after CNBC reported, citing two senior Treasury officials, that the department could tap its near $1trn Treasury General Account (TGA) to help fund its expanded government bond purchases. 10-year Treasury yields dropped more than 3bps to 4.70%, while 30-year yields shed more than 4bps to 5.23%.

What’s in a data center residual value guarantee? Answer looks murky in bankruptcy

Some of the biggest data center financings hitting the corporate bond market are underpinned by three magic words — residual value guarantee. For bondholders, no words can be sweeter. The RVG mechanism is one of the most valuable ways a hyperscaler tenant can provide credit support to a data center or other AI-related financings without incurring that debt on their own balance sheet.

Electronic Arts — Merger sets 4 August close with all regulatory approvals in hand, as noteholder standoff nears defeasance test

Electronic Arts disclosed in a Form 8-K filed on 30 July 2026 that, as of that date, "all regulatory approvals required to complete the Merger have been obtained," and that it expects the $55bn leveraged buyout to close "on or about the close of trading on August 4, 2026," subject to the satisfaction or waiver of remaining customary closing conditions.

EA tender offer windows compress toward potential close as FSR review nears decision point

Oak-Eagle AcquireCo announced on 15 July 2026 a fourth extension of its tender offer and consent solicitation for the Electronic Arts $750m 1.85% senior notes due 2031 and $750m 2.95% senior notes due 2051, pushing the expiration to 30 July and the settlement date to 4 August.

2026 FIFA World Cup's credit footprint across multiple sectors

The 2026 FIFA World Cup is the largest edition of the tournament ever staged, featuring 48 teams playing 104 matches across 16 host cities in the US, Canada and Mexico, up from 32 teams and 64 in the prior edition. The tournament kicked off earlier this month on Thursday, 11 June, and runs through Sunday, 19 July.

AI warning signs, Part Two — It’s IPO o’clock, do you know where your credit returns are?