Facebook parent Meta exploring first-ever sale of corporate bonds

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Facebook parent Meta Platforms Inc. META, +5.37% has reportedly asked banks to look into demand for a potential corporate bond sale — what would be the tech giant’s first, according to a Bloomberg News report. Per the Bloomberg report, the company has reportedly asked Morgan Stanley MS, +1.82%, JPMorgan Chase & Co. JPM, +1.05%, Bank of America Corp. BAC, +1.82%, and Barclays PLC BCS, +2.67% to arrange calls with potential investors. The report that the tech giant, led by CEO Mark Zuckerberg, is considering tapping the bond market comes just days after fellow tech giant Apple Inc. AAPL, +3.82% raised $5.5 billion. Meta is one of just 18 companies among the S&P 500 that has no long-term or short-term debt, aside from lease obligations, according to Bloomberg data. S&P Global Ratings assigned Meta an AA- rating on Wednesday, while affirming a “stable” outlook. “Our stable outlook reflects our expectation for roughly flat revenue growth over the next 12-18 months due to a slowing economic environment, but cash balances will remain high with no leverage,” S&P said in a press release. In addition, Moody’s Investors Service assigned Meta an A1 issuer rating.

This article was originally published by Marketwatch.com. Read the original article here.

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