Facebook owner Meta Platforms increase. said Tuesday it has raised $10 billion in its first time bond
offering, as it seeks to fund share buybacks and investments to improve its business.
The offering will help Meta, the only major technology company with no debt on its books, build a more traditional balance sheet and help fund some expensive initiatives, such as its Metaverse. Virtual reality.
Other tech giants such as Apple Inc and Intel Corp have also recently issued bonds, raising $5.5 Billion and $6 Billion respectively.
In late July, Meta posted a gloomy forecast and reported a drop in its first-quarter revenue, with recession fears and competitive pressures weighing on its digital add sale.
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