BlackRock eyes more than US$12 billion debt for Texas data centre

Published Mon, Jul 20, 2026 · 11:29 PM

[WASHINGTON] BlackRock is looking to sell more than US$12 billion of bonds to help finance a data centre campus in El Paso, Texas, according to people with knowledge of the transaction, the latest in a string of debt deals helping to fund tech companies’ massive investments in artificial intelligence.

The bonds are being sold by a company owning BlackRock’s 80 per cent stake in Project Sopaipilla Holdings, the data centre project that is also 20 per cent owned by Meta Platforms. That company with the 80 per cent stake has mandated JPMorgan Chase and Morgan Stanley to arrange fixed income investor calls on Wednesday, according to the people, who asked not to be identified as they’re not authorised to speak about it. 

The bonds are slated to be priced early next week. In May, people with knowledge of the deal said financing could total about US$13 billion. 

Funds managed by Global Infrastructure Management, known as GIP, and HPS Investment Partners hold the 80 per cent stake. Both are units of BlackRock. 

The deal is similar to an almost US$30 billion financing package Meta and Blue Owl Capital completed last year, for a data centre site in rural Louisiana. 

Representatives for BlackRock, JPMorgan and Morgan Stanley declined to comment. Meta didn’t immediately respond to a request for comment. BLOOMBERG