Oct 16 (Reuters) - Meta Platforms ( META ) was set to

seal an almost $30 billion finance package for its data center

site in rural Louisiana, which would be the largest private

capital deal on record, Bloomberg News reported on Thursday.

Large-scale cloud service providers, called hyperscalers,

have been racing to build AI infrastructure, with most of the

investment going towards powering data centers.

Meta and alternative asset manager Blue Owl Capital

will split ownership of the Hyperion data center site in

Richland Parish, Louisiana, with the social media giant

retaining just 20%, Bloomberg said, citing people with knowledge

of the matter.

Morgan Stanley ( MS ) arranged more than $27 billion debt

and about $2.5 billion equity into a special purpose vehicle to

finance the build-out, according to the report.

Meta is not borrowing the capital itself, but the financing

entity is, under the SPV structure, Bloomberg News reported.

Meta will be the developer, operator and tenant of the project,

to be completed in 2029.

The social media giant has tapped U.S. bond company PIMCO

and Blue Owl Capital to spearhead $29 billion in financing for

the data center expansion, Reuters reported in August.

The parties took the final step to price the bonds - in the

144A format - with PIMCO as the anchor lender on October 16,

according to Bloomberg News.

A few other investors are receiving some allocations of the

debt, which matures in 2049, the report said.

Meta, Blue Owl and Morgan Stanley ( MS ) did not immediately

respond to Reuters requests for comment.

Meta said on Wednesday it would invest $1.5 billion in a

data center in El Paso, Texas, breaking ground at its 29th such

facility globally as it expands infrastructure to support AI

workloads.

(Reporting by Juby Babu in Mexico City)