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Today's volume of 249 shares is on pace to be much greater than COTRP's 10-day average volume of 1,047 shares.

249

Facebook parent Meta Platforms explores first-ever sale of corporate bonds: report

11:52 am ET August 3, 2022 (MarketWatch)
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Facebook parent Meta Platforms Inc. (META) has reportedly asked banks to look into demand for a potential corporate bond sale --- what would be the tech giant's first, according to a Bloomberg News report. Per the Bloomberg report, the company has reportedly asked Morgan Stanley (MS), JPMorgan Chase & Co. (JPM), Bank of America Corp. (BAC), and Barclays PLC (BARC.LN) to arrange calls with potential investors. The report that the tech giant, led by CEO Mark Zuckerberg, is considering tapping the bond market comes just days after fellow tech giant Apple Inc. (AAPL)raised $5.5 billion Meta is one of just 18 companies among the S&P 500 that has no long-term or short-term debt, aside from lease obligations, according to Bloomberg data. S&P Global Ratings assigned Meta an AA- rating on Wednesday, while affirming a "stable" outlook. "Our stable outlook reflects our expectation for roughly flat revenue growth over the next 12-18 months due to a slowing economic environment, but cash balances will remain high with no leverage," S&P said in a press release. In addition, Moody's Investors Service assigned Meta an A1 issuer rating.

-Joseph Adinolfi

	

(END) Dow Jones Newswires

August 03, 2022 11:52 ET (15:52 GMT)

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