Share Buyback: Meta Raises $10bn via Bond Offering
Facebook-parent Meta Platforms Inc. said on Tuesday it had raised $10 billion in its first-ever bond offering, as the company seeks funds to pay for its 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.
Other tech giants such as Apple Inc. (APC) and Intel Corp (INL) also issued bonds recently, raising $5.5 billion and $6 billion, respectively. READ Airtel, DANGCEM Account for 38% of NGX, Shares Buyback Reduce…
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. # Share Buyback: Meta Raises $10bn via Bond Offering
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