Oracle Financial Services drops on report of parent's $18 bln data center loan concerns
Oracle Financial Services Software shares fell 6.4% to 11,131 rupees, their lowest level since July 31, and were on track for their worst day since July 22, also making them the top loser on the IT index. The Financial Times reported on Friday that about $18 billion in loans tied to parent Oracle's leased data center in New Mexico has come under pressure, with loans quoted at 89 to 91 cents on the dollar by syndicate banks including Santander and Jefferies. Oracle, Santander and Jefferies did not respond to Reuters requests for comment at the time of the report.
4% to 11,131 rupees, its lowest since July 31. 7%. The move came after the Financial Times reported that about $18 bln in loans tied to parent Oracle's leased data center in New Mexico had come under pressure, with syndicate banks including Santander and Jefferies quoting the loans at 89 to 91 cents on the dollar. Oracle, Santander and Jefferies did not respond to Reuters requests for comment at the time of the report.
3% drop in the IT index.