Meta is raising $15 billion through a five-part dollar bond offering as it finances an expanding AI infrastructure programme, Reuters reports. The borrowing adds to a broader funding effort for the data centres and computing capacity behind the company’s plans.
Two of the five tranches each amount to $3.25 billion, according to the regulatory filing cited by Reuters. The notes due in 2031 carry a 5.85% coupon; those due in 2033 carry a 6.25% coupon. A bond is a way for a company to borrow from investors and pay interest under agreed terms.
Meta sold $25 billion in bonds in April and $30 billion in 2025. The latest sale follows plans for a potential $97.5 billion equity raise. That figure includes up to $60 billion in a separate at-the-market programme expected after new Class C shares begin trading in the first quarter of 2027; its timing and terms have not been finalised. Common and mandatory convertible preferred offerings account for the other $37.5 billion.
What the spending plan says
Meta’s third-quarter results put expected 2026 capital expenditure at $135 billion to $145 billion, including principal payments on finance leases. The prior range was $130 billion to $145 billion: the company raised the lower end, leaving the upper end unchanged.
The company reported $32.79 billion in operating cash flow and negative $2.12 billion in free cash flow for the third quarter. Cash, cash equivalents and marketable securities stood at $82.45 billion on September 30. Meta’s free cash flow measure subtracts property and equipment purchases and finance lease principal payments from operating cash flow.
The figures show the scale of the funding needed to build the infrastructure. Reuters reports that Moody’s assigned the new debt an Aa3 rating.
