Meta raises $15 billion in bond sale

Meta Platforms is selling $15 billion of US dollar bonds, its first sale in the investment-grade bond market since April, with proceeds intended for data centers supporting its AI business. The dollar notes are half of a cross-border offering Meta expects to exceed $20 billion; the other half is a first-ever euro-denominated bond that could be sold Thursday. The dollar sale has five maturities ranging from five to 30 years. In April, Meta raised $25 billion and drew peak orders of $96 billion, but appetite for AI debt has since thinned. Other major technology companies, including Oracle, Alphabet and Microsoft, have also borrowed recently.