BlackRock closes $12.5B bond deal for Meta-backed data center
Beth_Kindig · x · 2026-08-04
BlackRock has completed a $12.5 billion bond financing for a Meta-backed data center, with the 20-year note maturing in 2048 and priced at a 2.875% yield.
Under the structure, Meta owns a 20% stake in the data center and will cover construction cost overruns beyond a set threshold.
This is a capital-intensive infra deal, not a pure funding round: it shows how frontier AI companies are increasingly using long-dated debt and project-finance structures to secure compute capacity.
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