Meta-Tied Data Center Draws Blowout Demand for Debut Junk Bond

A debut high-yield bond offering tied to Meta Platforms Inc. infrastructure has experienced blowout demand, attracting roughly $10 billion in orders for a debt sale priced at nearly $2.28 billion. The five-year notes issued by CleanSpark Inc. launched at 98.5 cents on the dollar with an 8.25% yield, representing a premium of approximately 1.75 percentage points over typical BB rated corporate debt. The proceeds will fund the construction of an artificial intelligence data center in Sandersville, Georgia. The facility is fully leased to Meta subsidiary Anviran LLC under a 20-year, $6.6 billion agreement, with Meta guaranteeing rent and operating expenses. Commercial operations are slated to begin in the fourth quarter of 2027. This transaction highlights growing investor appetite for high-yielding debt supporting AI infrastructure, even as higher borrowing costs reflect broader market scrutiny over tech capital expenditures. The deal also underscores a broader shift among public Bitcoin mining companies pivoting to data-center hosting for hyperscale technology giants.