Of the issued debt, the longest part, at 40 years, yields 192 basis points over US Treasury bond yields
Meta (ex-Facebook), the technology giant of young millionaire Mark Zuckerberg, is taking advantage of the high-quality bond market to raise capital and continue to grow.
According to sources familiar with the matter cited by Bloomberg, the company raised $8.5 billion by issuing debt in five tranches. The longest leg, at 40 years, yields 192 basis points over US Treasury yields.
Meta is one of eleven Wall Street firms that made bond offerings at the start of the week as they sought to sell debt before the Federal Reserve convenes and decides to raise interest rates above 5%.
Last year, the advertising, social media and metaverse company raised $10 billion in its first corporate bond issue. According to sources, the capital will be used to finance capital expenditures, buy back shares and make acquisitions or investments.