BlackRock (BLK) Launches $12.3B Bond Deal for Meta AI Data Center
TLDR
- BlackRock is marketing $12.3 billion in high-grade bonds to fund a Meta data center in El Paso, Texas
- The bonds are being offered through a BlackRock holding company called Sopaipilla Investor, with notes due in 2048
- Price talk is set at a premium of ~2.875 percentage points over Treasuries
- The data center will deliver up to 1 gigawatt of computing capacity for AI workloads
- BlackRock subsidiaries hold an 80% stake in the project; Meta owns the remaining 20%
BlackRock has launched one of the largest infrastructure bond deals of the year, marketing $12.3 billion in high-grade bonds to fund a Meta data center campus in El Paso, Texas.
The offering comes through Sopaipilla Investor, a holding company tied to BlackRock. It is a single tranche of notes maturing in 2048, with price talk set at around 2.875 percentage points over Treasuries.
BLK stock was up around 0.88% on the day, while META edged up roughly 0.27%.
JPMorgan Chase and Morgan Stanley are running the deal, which is expected to price next week.
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