Facebook's parent company, Meta Platforms, has asked a group of banks to hold meetings with investors for a possible bond sale, which would be the company's first.
Meta has asked Morgan Stanley, JPMorgan Chase, Bank of America and Barclays to host a series of calls with fixed income investors on Wednesday, according to a person familiar with the matter. That may be followed by a senior unsecured debt offering, the source said.
Unlike many of its large-cap tech peers that have borrowed heavily at low rates despite large cash reserves, Meta has so far stayed on the sidelines of the bond market.
Meta had about $40.5 billion in cash and equivalents on hand as of June 30.
