Aug 9 (Reuters) – Fb-parent Meta Platforms Inc (META.O) mentioned on Tuesday it had raised $10 billion in its first-ever bond providing, because it appears to be like to fund percentage buybacks and investments to redesign its trade.
The providing would lend a hand Meta, the one one amongst giant generation corporations with out debt on its books, to construct a extra conventional steadiness sheet and fund some pricey projects, comparable to its metaverse digital truth. learn extra
In past due July, Meta posted a dismal forecast and recorded its first-ever quarterly drop in earnings, with recession fears and aggressive pressures weighing on its virtual advertisements gross sales.
Sign up now for FREE limitless get right of entry to to Reuters.com
Reporting by way of Tiyashi Datta in Bengaluru; Enhancing by way of Krishna Chandra Eluri
Our Requirements: The Thomson Reuters Agree with Rules.