Meta's New US Bond Sale Draws $58B in Orders Despite Higher Borrowing Costs

Investors placed up to $58B in orders for Meta's $15B U.S. dollar bond sale, achieving roughly four times coverage across five tranches. Meta plans to add a euro-denominated offering, targeting a total raise of $20B to $25B, while S&P Global Ratings revised its credit outlook to negative due to AI capital expenditure risks. The 30-year bonds are priced 2.2 percentage points above U.S. Treasuries, 0.9 points wider than April's comparable notes, and the offering is part of a nearly $120B capital-raising effort including a $60B at-the-market program and $37.5B in stock sales.