BlackRock Raises $12.5 Billion for Meta’s Texas Data Center in Bond Sale Attracting $20 Billion In Orders
BlackRock-backed entities have raised $12.5 billion in debt to finance a 1GW artificial intelligence data center campus in El Paso, Texas. The 2048 notes, priced 287.5 basis points over 10-year Treasury yields, attracted $20 billion in orders, representing 1.6 times the offering size.
BlackRock entities will hold an 80% stake in the project with Meta owning the remaining 20%. The financing relies on Meta’s lease commitments and will remain off the social media company’s balance sheet. The bond sale gained strength in pre-market trading after initial weak demand, contrasting with recent missteps in AI infrastructure financing.
From the sources (3 posts)
@stockmktnewzBlackRock $BLK wrapped up a $12.5 billion bond sale tied to a Meta Platforms $META data center project in Texas The 2048 note sold at a yield premium of 2.875% over 10-year Treasury yields - Bloomberg
@firstsquawkBLACKROCK'S $12.3 BILLION AI DATA CENTER BOND DEAL FOR META RALLIED BEFORE PRICING, SIGNALING STRONGER-THAN-EXPECTED INVESTOR DEMAND. THE BONDS TIGHTENED IN THE GRAY MARKET DESPITE INITIAL WEAK DEMAND, HELPED BY HIGHER-THAN-USUAL YIELDS AT
@wallstengineBlackRock $BLK has raised $12.5 billion of debt to fund $META's 1GW AI data center campus in El Paso, Texas. The 2048 notes priced 287.5 basis points over 10-year Treasuries and attracted about $20 billion in orders, only 1.6x the offering