Pimco Sells $3 Billion in Meta Bonds as AI Debt Market Retreats

Pimco sold a $3 billion block of Meta-related bonds at a premium six to eight months after buying them, while stepping back from other AI debt deals as the market weakened.

Pimco participated in roughly $18 billion of debt financing for a Louisiana data center project linked to Meta. Pimco participated in roughly $10 billion of debt financing for Oracle's Michigan data center project. The Louisiana project is one of Meta's data center ventures previously covered by TokenPost.

As the AI bond market pulled back, Pimco passed on large debt transactions associated with Broadcom and Anthropic, an approximately $11 billion SoftBank junk bond offering and some Oracle data center loans. It also used interest-rate hedges to limit losses and remain profitable.

Pimco subscribed to about $4 billion in debt in a large SpaceX financing for the company's AI business expansion.