Other tech giants like Apple and Intel also recently issued bonds, raising $5.5bn and $6bn, respectively.
At the end of July, Meta posted a gloomy forecast and posted its first quarterly drop in revenue, with recession fears and competitive pressures weighing on its digital ad sales.
The company received an “A1” rating from Moody’s and an “AA-” rating. and a “stable” outlook from S&P. goal is selling four tranches of bonds with maturities ranging from five to 40 years.
Among the big tech companies, Meta is the only one that has no debt on its balance sheets. Go to market now it could be a rare opportunity to do it relatively cheaply in the current market environment.
Corporate bonds rallied in the past month after falling earlier in the year as investors hoped the US Federal Reserve’s fight against inflation through rate hikes would begin to have an impact.
Source: Ambito
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