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Facebook-owner Meta raises $10 billion in the first-ever bond offering

Facebook-owner Meta raises $10 billion in the first-ever bond offering

Facebook owner Meta Platforms said on Tuesday it raised $10 billion in its first-ever bond offering

Meta is looking to fund share buybacks and investments to restructure its business.

Meta is the only major tech company with no debt on its books.

Other tech giants recently issued bonds, including Apple and Intel, which raised $5.5 billion and $6 billion respectively, Reuters reported.

Meta announced In late July a bleak outlook and posted its first-ever quarterly drop in revenue as its digital ad sales hurt recession fears and competitive pressures.

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