- Meta Platforms, Inc (NASDAQ:META) is eying to raise $7 billion via a second bond sale in a five-part deal.
- The longest portion of the offering, a 40-year security, could yield 215 basis points over Treasuries, Bloomberg reports.
- Meta raised $10 billion in its first-ever corporate bond sale in 2022.
- Read: What’s Not Working for Mark Zuckerberg’s Meta? Employee Morale, Metaverse and TikTok Struggles Tilt Scales
- It plans to use the fresh funds to help finance capital expenditures, repurchase outstanding shares, and for acquisitions or investments.
- Meta spent the last months cutting costs and restructuring its workforce, while advertising sales rebounded in the first quarter.
- Even though it touts strong cash flow, the company is likely looking to shore up extra cash for future bond buybacks, according to Bloomberg analyst Robert Schiffman.
- Price Action: META shares traded lower by 0.32% at $239.55 on the last check Monday.
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