Pimco, Blue Owl Emerge as Winners for Meta’s $29 Billion Financing
The social media company plans to use $26 billion of debt and $3 billion of equity to fund its data center expansion in Louisiana
The Meta AI logo on a laptop.
Photographer: Gabby Jones/BloombergWelcome to Going Private, Bloomberg’s twice-weekly newsletter about private markets and the forces moving capital away from the public eye. Today, we look at signs of stress emerging in one of Blackstone’s private credit investments and the booming buy-now pay-later industry in Asia. But first, Meta has picked two winners in its quest for $29 billion of financing. If you’re not already on our list, sign up here. Have feedback? Email us at goingprivate@bloomberg.net. — Isabella Farr and Davide Scigliuzzo
After pitting some of the biggest names in private capital against each other for months, Meta Platforms has picked two winners to lead a $29 billion financing for its data center expansion in rural Louisiana.
Pacific Investment Management is expected to lead the $26 billion debt portion of the financing, likely in the form of investment-grade bonds, while Blue Owl will provide $3 billion of equity, our colleagues Carmen Arroyo, Laura Benitez and Kurt Wagner reported last night.