On Monday, Bloomberg News cited a source saying that Meta Platforms Inc (META.O) will raise $7 billion from its second bond issuance.
In the five-part bond sale, the oldest 40-year security may yield 215 basis points above Treasuries, as stated in the article.
The Facebook parent company plans to use the funds to undertake capital expenditures, repurchase outstanding shares of its common stock, and make acquisitions or investments, as stated in the report.
With its inaugural corporate bond offering last year, Meta raised $10 billion. Reuters’ request for comment was not met with an instant response from the corporation.
The company reported first-quarter results and sales above analysts’ expectations on a Wednesday, driving the stock price by around 13% the following week.