Meta Platforms Inc is targeting at least $25 billion in a bond sale, Bloomberg News reported on Thursday, citing people familiar with the matter.

 

Fixed-income news service IFR said the parent of Facebook and Instagram has filed for a six-part bond sale without disclosing a size, and was marketing bonds with maturities ranging from five to 40 years, Reuters reported.

 

Citigroup and Morgan Stanley are leading the offering, IFR reported.

 

The longest-dated notes are being offered at around 1.4 percentage points over comparable US Treasuries, Bloomberg News said.

 

Meta on Thursday forecast "notably larger" capital expenses next year due to investments in artificial intelligence and data centres. The company also reported third-quarter revenue growth of 26% that beat market estimates, but that jump was outpaced by a 32% increase in costs.

 

Meta last tapped the bond market in 2022 with a $10 billion sale.