Facebook owner Meta Platforms on Tuesday raised $10 billion in its first-ever bond offering as it looks to fund share buybacks and investments to restructure its business.
According to Arabiya Net, Meta is the only major technology company whose books are free of debt.
Other tech giants recently issued bonds, including Apple and Intel, which raised $5.5 billion and $6 billion respectively, Reuters reported.
In late July, Meta announced bleak forecasts and posted its first-ever quarterly drop in revenue as recession fears and competition pressures hit its digital ad sales.
