ING is looking to offload around $500 million in data center loans all at the same time.

The Dutch bank is holding an auction for a number of debts, Bloomberg reports, just as data center and AI stocks crashed following debt fears and a US election that saw the electorate vote against more data centers.

A dozen loans are available via a bids-wanted-in-competition process, with bids due November 19. They must be at least $10 million in size.

Among the loans is a $25m debt stake in a Stargate data center project in New Mexico. In September, Oracle sent a ‘force majeure’ notice to Blue Owl Capital to shield itself from potential increased costs of the up to 2.5GW Project Jupiter facility.

The site is being built by Stack and BorderPlex Digital Assets, but has faced challenges securing gas power connections. Despite setbacks, the first phase was topped out this October.

Also for sale are debts from Vantage Data Centers and CyrusOne.

The auction is the first of its kind at that scale that exclusively contains data center debt, and comes amid growing market uncertainty about the level of debt in the sector, particularly among neoclouds.