Big Tech Targets Bond Market for Cash to Buy Back Sinking Stocks
- With cash falling, bond sales could raise money for buybacks
- Microsoft could raise $20 billion, Meta as much as $10 billion
Meta Platforms saw more than 60% of its value erased.
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Tech companies including Microsoft Corp. and Meta Platforms Inc. are expected to hit the bond market in size to buy back stock after last year’s rout.
As much as $20 billion in issuance from Microsoft and $10 billion from Meta could be on the docket, according to analysis by Bloomberg Intelligence. The sector has more cash than others, giving it room to pursue bond sales to fund buybacks.