Digital infrastructure – the data centers, GPU clusters and power systems behind the AI build-out – has become the largest financing story in credit markets, with hundreds of billions of loans now flowing through HY, BSL, private credit and securitization. This panel brings together the bankers, lenders and rating agency analysts structuring these deals to unpack how the instruments actually work, where the risk sits across the capital stack, and what it means for credit markets financing the build-out.

Moderator:

• Tess Virmani, General Counsel and EVP/Head of Policy, LSTA

Panelists:

• Vineet Agrawal, Executive Vice President and Portfolio Manager, PIMCO
• Keith Banhazl, Managing Director, Co-Head of Americas Structured Finance and Head of Commercial Real Estate Finance, Moody's Ratings
• William Graham, Managing Director and Global Head of Leveraged Finance, Morgan Stanley
• John Medina, Senior Vice President, Global Project and Infrastructure Finance, Moody’s Ratings
• Matthew Sweeney, Managing Director, Private Credit, Macquarie Asset Management