NANOGrav signal as mergers of Stupendously Large Primordial Black Holes

We give an explanation for the signal detected by NANOGrav as the stochastic gravitational wave background from binary mergers of primordial "Stupendously Large Black Holes" (SLABs) of mass $M\sim(10^{11}-10^{12})M_{\odot}$, and corresponding to roughly $0.1\%$ of the dark matter. We show that the stringent bounds coming from $\mu$ distortions of the CMB can be surpassed if the perturbations resulting in these BHs arise from the non-Gaussian distribution of fluctuations expected in single field models of inflation generating a spike in the power spectrum. While the tail of the stochastic background coming from binaries with $M\lesssim 10^{11}M_{\odot}$ could both fit NANOGrav and respect $\mu$ distortions limits, they become excluded from large scale structure constraints.