According to CoinMeta, Blackstone is selling data center debt at a rate that exceeds 2.5 basis points over government bonds, up from 1.7 basis points six months ago. This investment-grade operator had considered borrowing $800 million at a rate of 1.7 basis points, but that transaction did not materialize. The new debt issuance is almost identical to the previous one, with the same collateral and supporters, but on a larger scale. Blackstone declined to comment on this. This is another sign of AI's debt distress: the yield on the highest-risk portion of SpaceX's $40 billion debt sale has expanded to 8.75%.