Thursday, 29 September, 2022

NEWS board

Meta set to raise billions fund

Meta set to raise billions fund

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Meta decided to launch the offering after releasing earnings late July, for varying maturities of its offering to give more funding options in the future, sources said.

Facebook-parent Meta Platforms Inc. is set to raise $10 billion in its first-ever bond offering on Thursday, as it looks to fund share buybacks and investments to revamp its business, according to two sources close to the deal.

The offering, which included bonds with maturities ranging from five years to 40 years, received over $30 billion of orders from investors, the sources said. They added the demand was skewed towards the longer-dated bonds. Among big technology companies, Meta had been the only one that did not have debt on its books. Tapping the market now would help it build a more traditional balance sheet.