Meta’s Backstop Is Linchpin for $26 Billion AI Data-Center Deal
Meta Platforms Inc. secured a $26 billion debt funding to build a new data center in Louisiana. The deal was fueled by Meta's agreement to provide a special guarantee on the complex, which became a linchpin in the heated bidding war for the financing. This guarantee, referred to as a "backstop," was a crucial factor that attracted lenders and enabled Meta to secure favorable terms for the loan. The data center project represents a significant investment by Meta in its infrastructure, as the company continues to expand its technology and cloud computing capabilities. The successful financing deal highlights Meta's financial strength and the confidence of lenders in the company's long-term growth prospects.
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