The Bloomberg source is more informative with respect to the financing (https://archive.ph/5WGcA)

> Blue Owl Capital Inc. and Meta will split ownership of the Hyperion data center site in Richland Parish, Louisiana, with the tech giant retaining just 20% of it, according to people with knowledge of the matter. To finance the build-out, Morgan Stanley arranged over $27 billion of debt and about $2.5 billion of equity into a special purpose vehicle

At 225 over (current?) treasuries:

> The bonds priced at about 225 basis points over Treasuries,