In a landmark transaction for the digital infrastructure sector, Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) is finalising an almost $30 billion financing package for its vast Hyperion data centre in rural Louisiana, the largest private capital deal ever recorded.
The project, based in Richland Parish, will be jointly owned by Meta and investment firm Blue Owl Capital, with the social media group retaining a 20% stake.
Morgan Stanley has arranged roughly $27 billion in debt and $2.5 billion in equity through a special-purpose vehicle, allowing Meta to develop, operate and lease the facility without adding debt to its balance sheet.
Pacific Investment Management Co. (Pimco) is anchoring the lending, with Blue Owl providing equity. The 144A bonds, rated A+ by S&P, mature in 2049 and are expected to price about 225 basis points above US Treasuries.
Spanning about 4 million square feet, Hyperion will be Meta’s largest data centre, capable of drawing up to 5 gigawatts of power once completed in 2029, enough to supply four million US homes.
The structure offers a blueprint for other technology firms seeking to fund large-scale artificial intelligence and cloud infrastructure projects while protecting their credit ratings.