Meta Launches Debut Euro Bond Offering After Raising $15 Billion in Dollar Debt

Meta Platforms Inc. entered European credit markets on Wednesday with its debut euro-denominated bond offering, coming one day after raising $15 billion in a five-part U.S. dollar debt transaction, according to reporting carried by Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/meta-goes-europe-debt-raising-195334046.html?.tsrc=rss) via Bloomberg.

The transaction represents Meta's first bond sale outside the United States. Large technology operators have increasingly turned to international debt markets to finance aggressive capital expenditures required for artificial intelligence clusters, custom silicon, and data center build-outs.

The euro offering is divided into six tranches with maturities spanning from slightly over four years to more than 38 years. Initial pricing guidance opened at roughly 140 basis points over mid-swaps for the shortest maturity and approximately 370 basis points over mid-swaps for the longest tranche. Citigroup and Morgan Stanley are serving as bookrunners on the offering, which was scheduled to price later on Wednesday.

The European deal follows Tuesday's $15 billion U.S. dollar bond issuance, which Meta structured across five tranches maturing between 2031 and 2056. Those dollar-denominated notes carried fixed coupons ranging from 5.850% to 7.500%, attracting up to $58 billion in total investor orders during bookbuilding.

Meta's borrowing terms reflect higher prevailing interest costs than its prior market outing. When the company issued $25 billion of debt in April, its 2031 paper carried a coupon of 4.550%, while its 2056 bond was priced at 6.300%.

The back-to-back bond transactions follow disclosures last week outlining plans for equity offerings of roughly $97.5 billion intended to support long-term capital programs for artificial intelligence. Meta shares rose 1.65% in morning trade following the launch of the European issuance.