Meta Platforms Inc., the parent company of Facebook, raised $10 billion in its first bond offering as it seeks to finance share buybacks and investments to restructure its business.
The IPO would help Meta, the only significant technology company free of debt, create a more conventional balance sheet and raise money for some pricey projects, such as its metaverse virtual reality system.
Meta disclosed its first-ever quarterly revenue decline at the end of July, blaming the decline in digital ad sales on recession fears and competitive pressures.
