The company Meta offered corporate bonds for the first time.
This is reported by MarketWatch.
At Meta, neither the volume of the issue of securities nor their price is yet disclosed. In a regulatory filing, the company said it will use the proceeds from the bonds for general corporate purposes, which may include capital expenditures, repurchases of common stock, acquisitions or investments.
Rating agency S&P Global Ratings assigned Meta an AA rating with a "stable" outlook.
"Our stable outlook reflects our expectation for roughly flat revenue growth over the next 12-18 months due to a slowing economic environment, but cash balances will remain high with no leverage," S&P said in a news release.
Moodyʼs Investors Service assigned Meta an A1 issuer rating.
- On July 28, the social network Facebook, which is owned by the Meta company, reported the first annual decline in second-quarter revenue in its history. The company fell 1% to $28.8 billion.