Meta Raises $12 Billion for Texas Data Center as Borrowing Costs Jump 0.4% Above 2025 Record Deal

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According to The Financial Times, Meta Platforms is preparing to raise $12 billion through a BlackRock-backed special-purpose vehicle to fund a nearly one-gigawatt data center in El Paso, Texas, with financing expected to launch as early as next week. Bond investors are demanding yields above 7%, roughly 0.4 percentage points higher than the company secured during its record $27 billion "Hyperion" financing completed last October. Applied to the $12 billion offering, the higher yield could translate into tens of millions of dollars in additional annual interest expense.
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