BlackRock is seeking to raise over 12 billion dollars through a bond issuance to build a one-gigawatt data center in El Paso, Texas. Bond investors are demanding significantly higher yields than those accepted nine months ago for comparable infrastructure deals. Meta Platforms holds a 20% equity stake with a lease agreement, while BlackRock and its affiliates control the remaining 80% through Project Sopaipilla Holdings. This transaction, arranged by JPMorgan and Morgan Stanley, illustrates the reshaping of financing conditions in fixed-income markets in 2026.
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