Sci-Tech
Thursday Aug 11 2022
By
Reuters

Meta raises $10 billion in first-ever bond offering

By
Reuters
The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. — Reuters
The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. — Reuters
  • Meta raises $10 billion in its first-ever bond offering.
  • Apple Inc and Intel Corp also issue bonds recently.
  • Meta is the only one among big technology companies without debt on its books.


Facebook-parent Meta Platforms Inc said on Tuesday it had raised $10 billion in its first-ever bond offering, as it looks to fund share buybacks and investments to revamp its business.

The offering would help Meta, the only one among big technology companies without debt on its books, to build a more traditional balance sheet and fund some expensive initiatives, such as its metaverse virtual reality.

Other tech giants such as Apple Inc and Intel Corp also issued bonds recently, raising $5.5bn and $6bn, respectively.

In late July, Meta posted a gloomy forecast and recorded its first-ever quarterly drop in revenue, with recession fears and competitive pressures weighing on its digital ads sales.