(Reuters) - Meta Platforms Inc is targeting at least $25 billion in its bond sale, Bloomberg News reported on Thursday, a day after the company forecast "notably larger" capital expenses next year due to investments in artificial intelligence and data centers.
According to fixed-income news service IFR, the Facebook and Instagram parent has filed for a six-part offering without disclosing a size, and is marketing bonds with maturities ranging from five to 40 years.
Citigroup and Morgan Stanley are leading the offering, IFR reported.
Shares of Meta were down about 10.5% during premarket hours on news of the bond sale. The social media giant did not immediately respond to a Reuters request for comment.
The longest-dated notes are being offered at around 1.4 percentage points over comparable U.S. Treasuries, Bloomberg News said.
Meta last tapped the bond market in 2022 with a $10 billion sale, its first such offering.