Key facts
- Meta's $15 billion US sale drew orders of $58 billion, nearly 3.9 times the amount sold.
- The 2056 bond offered a yield 2.2% above comparable US Treasuries, down from an initial 2.5% spread.
- Meta's 10-year bond yielded 6.55%, nearly one percentage point above the average AA-rated corporate yield.
- Yields across Meta's five tranches ranged from 5.85% to 7.53%.
- Meta expects capital spending of $135 billion to $145 billion this year and plans up to $60 billion more in stock sales.
- Bloomberg Intelligence projects Meta will invest more than $740 billion over the next three years.
Meta Platforms moved toward its first euro-denominated bond sale after raising $15 billion in US debt, as rising AI infrastructure costs push the company to seek capital globally.
The US sale on Tuesday, November 3, 2026, drew $58 billion in investor orders, nearly 3.9 times the amount sold. Meta issued bonds across five maturities ranging from five to 30 years. The longest-term bond, maturing in 2056, offered a yield 2.2% above comparable US Treasuries, down from an initial spread of 2.5% but 0.9% higher than a similar bond issued in April. Meta's 10-year bond offered a yield of 6.55%, nearly one percentage point above the average yield on AA-rated corporate debt. Yields across all five tranches ranged from 5.85% to 7.53%.
Meta expects capital spending to reach $135 billion to $145 billion this year as it expands computing capacity. The company has also raised $25 billion through common stock and $12.5 billion through preferred shares, and plans another $60 billion in potential stock sales through an at-the-market program. Bloomberg Intelligence projects Meta will invest more than $740 billion over the next three years, and major AI infrastructure firms could together spend nearly $4.5 trillion.
S&P Global Ratings lowered Meta's credit outlook last week, citing concerns about increasing pressure on its balance sheet. Other technology firms have also tapped debt markets: Oracle raised $10 billion on Monday, Alphabet secured €6 billion through euro-denominated bonds, and Microsoft last week finished a $25 billion bond sale. According to Bloomberg, major technology companies have issued nearly $430 billion in investment-grade bonds globally since last year.
Craig Brothers, senior portfolio manager at Bel Air Investment Advisors, said the bond market was trying to discipline the companies by offering to pay more for their funding, but they were still willing to do so. Meta previously raised $25 billion in April through a bond offering that attracted $96 billion in peak investor orders.