Facebook’s Meta takes on bond debt, in a first

Facebook-owner Meta is ending a run as one of the few major firms without debt, launching its first bond sale as the company battles uncertainty and bets heavily on its metaverse vision.

Worries over the social media giant’s future and fierce competition from TikTok have sent its stock plummeting, while the firm spends billions on its plan for the internet’s next iteration.

Meta reported to the US markets watchdog on Thursday that it has begun offering bonds to raise money for uses such as “capital expenditures, repurchases of outstanding shares of its common stock, acquisitions, or investments.”