meta: Meta raises USD10 billion in first-ever bond offering 

Facebook-parent Meta Platforms Inc recently said it had raised USD10 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.

,

Also Read

Facebook parent Meta set to raise USD10 billion in bond debut, claims sources

Other tech giants such as Apple Inc and Intel Corp also issued bonds recently, raising USD5.5 billion and USD6 billion, 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.

Also Read

Company's pandemic-era forecast was too rosy, says Mark Zuckerberg

( Details and picture courtesy from Source, the content is auto-generated from RSS feed.)

Join our official telegram channel for free latest updates and follow us on Google News here.