BlackRock phát hành trái phiếu trung tâm dữ liệu Meta trị giá 12,55 tỷ USD với lợi suất 7,534%

The Huoxing Finance report states that on July 28, according to Bloomberg, the $12.55 billion investment-grade bonds issued by BlackRock for Meta’s data center project in El Paso, Texas, rose in early Monday trading. The bonds were issued with a yield of 7.534%, 287.5 basis points higher than U.S. Treasuries—a level more typical of the junk bond market. During the issuance phase, subscription demand for the bonds reached approximately $20 billion, only 1.6 times the issuance amount, significantly below the average subscription multiple of about 4 times for bond issuances this year. However, the higher yield ultimately attracted investors, causing the bond’s secondary market yield spread to narrow to around 260 basis points above U.S. Treasuries, below the initial 287.5 basis points. Recently, tech companies have been aggressively raising capital through large-scale bond issuances, putting pressure on investors’ capacity to absorb additional AI-related debt. Prior selling pressure on tech bonds, coupled with continued capital expenditure expansion by companies like Alphabet and potential further bond issuances, has weakened demand for newly issued bonds. The early performance of BlackRock’s recent bond issuance contrasts with recent offerings by companies such as SpaceX. After SpaceX completed its first investment-grade bond issuance in June, its bonds declined in the secondary market, leaving investors with significant paper losses.