Meta Platforms Inc., one of the few S&P 500 companies without debt, sold $10 billion in its first ever corporate bond deal as its cash flow and stock price fall.
The social media giant’s bond deal sold in four parts, according to a person with knowledge of the matter. The longest portion of the offering, a 40-year security, yields 1.65 percentage points above Treasuries, said the person, who asked not to be identified as the details are private, after initial discussions of 1.75 to 1.8 percentage points. Orders reached more than $30 billion at the peak early in the afternoon in New York, according to a person familiar with the demand.
