Overview
- Meta priced a six-part offering across maturities from five to 40 years, securing the largest high‑grade US note sale since 2023 with about $125 billion in bids.
- The company is funding an aggressive expansion of AI compute and data centers after guiding 2025 capital spending to $70–$72 billion and signaling faster growth in 2026 outlays.
- Shares fell more than 11% after Q3 results included a one-time US tax charge of about $15.9 billion, with the drop erasing roughly $29 billion from Mark Zuckerberg’s net worth.
- Reporting also highlights a separate roughly $27 billion Blue Owl financing for Meta’s Hyperion data center in Louisiana using a project SPV structure outside the core balance sheet.
- Investor appetite reflects favorable high‑grade conditions and confidence in Meta’s cash generation, with the longest tranche marketed at about 1.4 percentage points over Treasuries.