This article first appeared on GuruFocus.
Meta Platforms Inc. (NASDAQ:META) launched its first euro-denominated bond sale on Wednesday, a day after raising $15 billion in the U.S. dollar market, Bloomberg reported. It is Meta’s first bond sale outside its home market. Meta shares were up 1.65% as of 9:50 a.m. ET.
The euro offering comes in six parts, with maturities from just over four years to more than 38 years. Initial pricing is around 140 basis points over mid-swaps for the shortest tranche and around 370 basis points for the longest. Citigroup and Morgan Stanley are managing the sale, which is expected to price later on Wednesday.
Meta priced Tuesday’s dollar notes in five tranches maturing from 2031 to 2056, with coupons from 5.850% to 7.500%. Investors placed as much as $58 billion of bids for the deal, Bloomberg said. The coupons are higher than in Meta’s April sale of $25 billion of notes, when its 2031 bonds paid 4.550% and its 2056 bonds 6.300%. The debt follows Meta’s plans last week for equity offerings of around $97.5 billion to fund its AI build-out.
Source: finance.yahoo.com
