Overview
- Investors placed about $125 billion of orders for the investment‑grade deal, with Citigroup and Morgan Stanley coordinating the sale.
- The offering is split into six tranches spanning five to 40 years; the $4.5 billion 40‑year piece is expected to yield about 1.1 percentage points over Treasuries, according to a person familiar with the matter.
- Meta says proceeds will support a ramp in capital spending, with up to $72 billion in capex this year and considerably faster growth guided for 2026 as AI is integrated across core products.
- The transaction is the largest high‑grade corporate sale of 2025 and the biggest since Pfizer’s $31 billion issuance in 2023, taking advantage of lower rates and tight credit spreads.
- Meta shares fell roughly 11% on Thursday, reducing Mark Zuckerberg’s net worth by about $29.2 billion, according to the Bloomberg Billionaires Index.