Meta Platforms is tapping dollar debt for the first time in six months,
targeting at least $20bln in the US and European markets to help fund AI
infrastructure spending. The deal is split into five tranches with maturities of
about 5–30 years; initial guidance on the longest tranche is roughly 250bp over
US Treasures, a source said. Meta last sold investment-grade bonds in April,
raising $25bln with peak demand near $96bln; investor appetite for AI-related
bonds has cooled since, prompting issuers to offer wider premia. Citigroup and
Morgan Stanley are underwriting the transaction.
