Meta Raises $10 Billion In The Company’s First Bond Offering.

As it attempts to finance share buybacks and investments to revamp its business, Meta Platforms Inc., the parent company of Facebook, announced on Tuesday that it has raised $10 billion in its first-ever bond issue.

Meta Raises $10 Billion In The Company's First Bond Offering.
The offering would assist Meta, the only major technology company without debt, in creating a more traditional balance sheet and funding some costly initiatives, such as its virtual reality platform, the metaverse.

Recently, other corporate behemoths including Apple Inc. and Intel Corp. issued bonds to raise $5.5 billion and $6 billion, respectively.

With recession worries and competition pressures impacting its sales of digital advertisements, Meta set a gloomy outlook and reported its first-ever quarterly revenue decline in late July.