Meta raises  billion in first-ever bond providing

Meta raises $10 billion in first-ever bond providing

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Fb-parent Meta Platforms Inc mentioned on Tuesday it had raised $10 billion in its first-ever bond providing, because it seems to be to fund share buybacks and investments to revamp its enterprise, experiences Reuters.

The providing would assist Meta, the one one amongst huge know-how firms with out debt on its books, to construct a extra conventional stability sheet and fund some costly initiatives, similar to its metaverse digital actuality.

Different tech giants similar to Apple Inc and Intel Corp additionally issued bonds not too long ago, elevating $5.5 billion and $6 billion, respectively.

In late July, Meta posted a dark forecast and recorded its first-ever quarterly drop in income, with recession fears and aggressive pressures weighing on its digital adverts gross sales.

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