BlackRock Leads $12 Billion Debt Financing for Meta's Texas Data Center Project

ChainCatcher report, according to The Wall Street Journal, BlackRock is leading a debt financing effort of at least $12 billion for Meta’s new data center project in El Paso, Texas. BlackRock and its infrastructure and private credit divisions hold an 80% stake in the project, while Meta holds the remaining 20%; the campus is expected to have a capacity of approximately 1 gigawatt. JPMorgan Chase and Morgan Stanley are leading the large-scale debt issuance and are engaging with other potential investors. The structure of this project mirrors Meta’s data center in Louisiana, where Blue Owl holds an 80% stake in the joint venture and Meta holds 20%, funded through debt financing. Additionally, Meta has agreed to lease a large data center project being developed by Aligned Data Centers in Shippingport, Pennsylvania, which is backed by BlackRock. Over the past year, BlackRock has consistently expanded its investments in AI data centers, including the $40 billion acquisition of Aligned Data Centers. BlackRock was also one of the primary investors in Meta’s $27 billion private debt financing for its Louisiana data center, purchasing over $3 billion in bonds in that transaction.