Wednesday, August 17, 2022
HomeSportsMeta raises $10 billion in first-ever bond providing

Meta raises $10 billion in first-ever bond providing

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Fb-parent Meta Platforms Inc. stated on Tuesday it had raised $10 billion in its first-ever bond providing, because it appears to fund share buybacks and investments to revamp its enterprise.

The providing would assist Meta, the one one amongst large expertise firms with out debt on its books, to construct a extra conventional stability sheet and fund some costly initiatives, resembling its metaverse digital actuality.

Different tech giants resembling Apple Inc. and Intel Corp. additionally issued bonds just lately, elevating $5.5 billion and $6 billion, respectively.

In late July, Meta posted a depressing forecast and recorded its first-ever quarterly drop in income, with recession fears and aggressive pressures …

Carry on studying: Meta raises $10 billion in first-ever bond providing

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