BlackRock Issues $12.55B Meta Data Center Bonds at 7.534% Yield on July 28

BLK1.70%
META-1.16%
According to Bloomberg, BlackRock issued $12.55 billion in investment-grade bonds for Meta's El Paso, Texas data center project on July 28, with a yield of 7.534%, or 287.5 basis points above U.S. Treasuries—a level typically seen in junk bond markets. The bonds attracted $20 billion in subscription orders during the issuance phase, representing just 1.6 times the offering amount, below the 2026 average of approximately 4 times oversubscription.
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