Meta raises $10 billion in first-ever bond offering

The offering would help Meta, the only one among big technology companies without debt on its books, to build a more traditional balance sheet and fund some expensive initiatives, such as its metaverse virtual reality. Other tech giants such as Apple Inc and Intel Corp also issued bonds recently, raising $5.5 billion and $6 billion, respectively.

In late July, Meta posted a gloomy forecast and recorded its first-ever quarterly drop in revenue, with recession fears and competitive pressures weighing on its digital ads sales.