Facebook-parent Meta Platforms said on Thursday it would make its first-ever bond offering, at a time when the social media company is making massive investments to fund its metaverse projects.
Meta did not disclose the size of the offering, but said it would use the proceeds for capital expenditures, share repurchases, acquisitions or investments.
Among the high-flying megacap tech firms, Meta is the only one that does not have any debt on its books.
The company’s free-cash flow has been depleting as it charges ahead with its metaverse plans, which led the change in its name to Meta Platforms from Facebook last year.
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