Meta launches its first euro bond issuance with a maturity of over 38 years

Meta Platforms (META.US) has launched its first euro-denominated bond issuance after issuing $15 billion worth of U.S. dollar-denominated bonds on Tuesday. According to a person familiar with the matter, Meta intends to issue euro bonds across six maturities, ranging from just over 4 years to more than 38 years. The initial price guidance for the shortest-maturity bonds is about 140 basis points above the mid-swap rate, while the longest-maturity bonds have an initial price guidance of about 370 basis points above. This marks Meta’s first bond issuance outside the U.S. domestic market. On Tuesday, the company's U.S. dollar bond issuance attracted strong investor demand, with subscriptions reaching as high as $58 billion. Citigroup and Morgan Stanley are acting as underwriters for the euro bond issuance, with the deal expected to be priced later on Wednesday.