BlackRock to finance Meta data center in El Paso with $12 billion bond sale

BlackRock Inc. is arranging a bond offering of more than $12 billion to fund Meta Platforms Inc.'s new data‑center campus in El Paso, Texas. The bonds will be issued by a holding company that controls 80 % of Project Sopaipilla Holdings, with Meta owning the remaining 20 %. JPMorgan Chase & Co. and Morgan Stanley are handling investor meetings, with pricing expected early next week. Sources say the total financing could rise to about $13 billion. Global Infrastructure Partners and HPS Investment Partners, both BlackRock affiliates, hold an 80 % stake in the project.

The one‑gigawatt facility is slated to become operational in 2028 and is projected to create over 300 permanent jobs. This financing adds to a wave of debt issuances that support AI‑related infrastructure, a sector in which hyperscale tech firms are expected to invest roughly $5.5 trillion through 2030, much of it financed via bond markets.