Meta prepares dollar and euro bond sale to fund AI infrastructure
14 sourcesUpdated Nov 2, 20261 min read
Meta has asked Citigroup and Morgan Stanley to arrange investor calls on Monday and Tuesday as it prepares a dollar and euro bond sale. Bloomberg reports Meta is eyeing at least $20 billion for AI infrastructure, with size possibly growing on demand; no final decision has been made. Dollar bonds would split into five parts maturing 5 to 30 years; euro notes into six parts from about 4 to just over 38 years. It would be Meta's first-ever euro bond and first bond sale in six months. Last week Meta priced $25 billion in common stock and $12.5 billion in preferred shares paying a 6.5% dividend and converting in 2029, and plans an at-the-market program of up to $60 billion starting in 2027. S&P revised Meta's credit outlook to negative over uncertainty about AI monetization. Contested: TipRanks puts recent stock offerings at $37.5 billion; Reuters and CNBC TV18 put the package as large as $97.5 billion with the ATM program. No major outlet disputes the bond-sale facts. Final offering size and go-ahead remain open.
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Testing demand this way for such huge infrastructure spending feels like a cautious move given all the recent tech skepticism.
The downgrade plus this bond sale and share offering together suggest Meta's AI bets are starting to worry even its lenders.
Meta borrowing in two currencies for AI data centers looks like they're bracing for higher costs ahead.
