Facebook parent Meta makes first-ever bond offering | Reuters

The logo of Meta Platforms is seen in Davos, Switzerland, May 22, 2022. Picture taken May 22, 2022. REUTERS/Arnd Wiegmann//File PhotoRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) – Facebook-parent Meta Platforms (META.O) said on Thursday it would make its first-ever bond offering, at a time when the social media company is making massive investments to fund its virtual reality projects.Meta did not disclose the size of the offering but said it would use the proceeds for capital expenditures, share repurchases, acquisitions or investments.The company received an ‘A1’ rating from Moody’s and an ‘AA- rating’ and a ‘stable’ outlook from S&P. Meta is selling four tranches of bonds with maturities ranging from five years to 40 years.Register now for FREE unlimited access to Reuters.comAmong big technology companies, Meta is the only one that does not have any debt on its books. Tapping the market now would give it more financial room as it tries to fund some expensive overhauls, including a bet on augmented and virtual reality technology, investors who heard its presentation for the bond offering on Tuesday said.It might also be a rare opportunity to do so relatively cheaply in the current market environment. Corporate bonds…
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