Meta raises $10 billion in its first-ever bond sale.

Meta Platforms Inc, the parent company of Facebook, announced on Tuesday that it had raised $10 billion in its first-ever bond offering to fund share buybacks and investments to revitalize its business.
The selling would assist Meta, the only significant technology company without debt, in building a more traditional balance sheet and funding costly endeavors, such as its metaverse virtual reality.
Other industry titans, such as Apple Inc and Intel Corp, have also issued bonds, raising $5.5 billion and $6 billion, respectively.

In late July, Meta issued a bleak prognosis and reported its first-ever quarterly revenue loss, blaming recession fears and competitive pressures on digital ad sales.