Meta Attracts $58 Billion in Orders for $15 Billion Bond Offering

Meta ($META) attracted as much as $58 billion in investor orders for its $15 billion U.S. dollar bond offering, nearly four times the amount being sold, despite rising borrowing costs.
The offering spans five maturities, ranging from 5 to 30 years. Meta is also preparing its first euro-denominated bond sale, potentially bringing the combined offering to $20 billion–$25 billion.
However, Meta’s 30-year bonds are being marketed at roughly 2.2 percentage points above U.S. Treasuries, about 0.9 percentage points wider than comparable debt issued in April. This reflects the higher premiums investors are demanding amid the company’s expanding AI spending.
The financing follows Meta’s $25 billion common stock offering and $12.5 billion preferred share offering last week. The company expects capital expenditures of $135 billion–$145 billion this year, reported negative $2.1 billion in Q3 free cash flow, and recently had its credit outlook revised to negative by S&P.