$10 Billion Jumbo Deal by Meta Makes Bond Market Debut | 5 August 2022 | Daily Morning Note
Social media giant's bond deal sold in four parts. Longest portion of the offering, a 40-year security, yields 1.65 percentage points above Treasuries. Meta just posted its first year-over-year quarterly revenue decline. Company may be more likely to use the money to significantly bolster its share buybacks. Meta has been using cash to repurchase stock, including $5.1 billion in the second quarter of this year.
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