BlackRock (BLK) completed a $12.5 billion bond sale to finance a Meta Platforms data center project in Texas, Bloomberg reported Monday, citing a person familiar with the matter.
The report said the offering, managed by JPMorgan Chase and Morgan Stanley, was about $273 million larger than initially planned and drew about $20 billion in investor orders. The bonds were issued by BlackRock-backed special-purpose vehicle Sopaipilla Investor.
Bloomberg said proceeds will fund an artificial intelligence data center campus in El Paso, Texas, where BlackRock subsidiaries hold an 80% stake and Meta owns the remaining 20%.
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