Corporate bonds

Facebook Parent Meta Platforms Explores First-Ever Corporate Bond Sale: Report

The parent company of Facebook Meta Platforms Inc. META,
reportedly asked banks to consider demand for a possible corporate bond sale — what would be the tech giant’s first, according to a Bloomberg News report. According to the Bloomberg report, the company allegedly asked Morgan Stanley MS,
JPMorgan Chase & Co. JPM,
Bank of America Corp. BAC,
and Barclays PLC BCS,
to arrange calls with potential investors. The report that the tech giant, led by CEO Mark Zuckerberg, is considering tapping into the bond market comes just days after fellow tech giant Apple Inc. AAPL,
raised $5.5 billion. Meta is one of 18 S&P 500 companies with no long-term or short-term debt, aside from lease obligations, according to data from Bloomberg. S&P Global Ratings on Wednesday assigned Meta an AA- rating, while affirming a “stable” outlook. “Our stable outlook reflects our expectation of roughly flat revenue growth over the next 12-18 months due to a slowing economic environment, but cash balances will remain elevated without leverage,” S&P said in a press release. Additionally, Moody’s Investors Service has assigned Meta an A1 issuer rating.