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Meta El Paso (Sopaipilla Investor)
Meta's second venture, built like Hyperion. Demand reached 1.6 times the bonds on sale, against close to four times for the average bond sale this year, and they paid about 0.4 points more than the Hyperion bonds were trading at.
- Size
- $12.55B · Investment-grade bonds sold at a 7.534% yield.
- Date
- · Started trading Jul 27.
- Type
- Off-balance-sheet venture
- Status
- Priced
Who does what
- JPMorganled the sale
- Morgan Stanleyled the sale
- BlackRockits funds hold the 80% stake behind the issuer
- Metarents the campus, holds 20%
- Metagives a residual value guarantee
What we don’t know
- The guarantee cap for Texas alone
Sources
- BlackRock Dodges AI Bond-Trading Flop After Offering Junk Yields Bloomberg via Advisor Perspectives · Jul 28, 2026
- Meta Platforms 10-Q, quarter ended Sep 30, 2026 SEC · Oct 22, 2026
We opened each of these on Oct 30, 2026.
See it on the debt map. Not financial advice.