🇩🇪 German, 14 October 2026, data center finance
Facebook's Meta Conceals $30 Billion Data Center from Balance Sheet
Meta's Hyperion data center is financed through a complex structure involving a special vehicle and a $27 billion bond.
The data center, valued at $30 billion, is leased by Meta and financed through a special vehicle called Beignet, which issued a $27 billion bond, the largest high-grade bond in US history.
The bond was purchased by Pimco, a wealth manager, and quickly resold to an unknown buyer, with a 90% leverage ratio.
Meta pays leasing fees to Beignet, but the financial obligations are not reflected in its balance sheet, allowing it to maintain its software company valuation and avoid potential losses.