Meta Platforms makes its first bond issue

The company confirmed to the SEC the launch of unsecured preferred bonds between investors

Meta Platforms, the parent company of Facebook, confirmed to the United States Securities Market Commission (SEC) the start of a placement of unsecured preferred bonds among institutional investors, in which it represents the company’s first debt issue.

“Meta Platforms began an offering of senior unsecured bonds to persons who were reasonably believed to be qualified institutional buyers“, the multinational said in a statement.

The company indicated that it intends to use the proceeds from the offering for “general corporate purposes”, which may include, but is not limited to, capital expenditures, outstanding share repurchases of its common stock, acquisitions, or investments.

Likewise, Meta highlighted that the timing of pricing and the terms of the bond issuance are subject to market conditions and other factors.

In this sense, knowledgeable sources indicated to Bloomberg that the issue would range between 8,000 and 10,000 million dollars and could be divided into four tranches, with the longest maturities reaching up to 40 years and with a return of between 1.75 and 1.8 percentage points above Treasury bills.

K. Tovar

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Source: El Comercio

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