Investing
Meta plans $7 billion bond issue – Bloomberg News
© Reuters. FILE PHOTO: The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. REUTERS/Arnd Wiegmann/File Photo
(Reuters) – Meta Platforms Inc (NASDAQ:) is planning to raise $7 billion in a second bond offering, Bloomberg News reported on Monday, citing a person familiar with the matter.
The five-part bond issue’s longest 40-year security could yield 215 basis points over Treasuries, according to the report.
The Facebook parent plans to use the funds to help finance capital expenditures, repurchase outstanding shares of its common stock, and for acquisitions or investments, according to the report.
Meta, which did not immediately respond to a Reuters request for comment, raised $10 billion in its first corporate bond issue last year.
The company beat expectations for first-quarter profit and revenue on Wednesday, and its shares gained about 13% last week.
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