Facebook-parent Meta Platforms Inc mentioned on Tuesday it had raised $10 billion in its first-ever bond providing, because it appears to fund percentage buybacks and investments to redesign its trade.

The providing would assist Meta, the one one in all giant era corporations with out debt on its books, to construct a extra conventional steadiness sheet and fund some dear tasks, comparable to its metaverse digital truth.

Other tech giants comparable to Apple Inc and Intel Corp additionally issued bonds lately, elevating $5.5 billion and $6 billion, respectively.

In overdue July, Meta posted a dismal forecast and recorded its first-ever quarterly drop in income, with recession fears and aggressive pressures weighing on its virtual commercials gross sales.