META · News · 20261102N

Outstanding Indebtedness

Meta Platforms, Inc. · 2026-11-02 · Importance 48 · Surprise 42

Meta was preparing a cross-border investment-grade bond offering as of November 2, 2026. The company asked Citigroup and Morgan Stanley to hold investor calls on Monday and Tuesday. A person familiar with the matter said Meta may issue U.S.-dollar bonds in five parts and euro-denominated notes in six parts; the report did not disclose offering amounts or final terms.

Key facts

• S&P lowered the outlook on Meta Platforms, Inc.'s AA- credit rating to negative, citing rising leverage and uncertainty about how long elevated capital spending and negative free operating cash flow could persist. source
• S&P projects Meta Platforms, Inc.'s leverage could climb above 1.0 times in 2027 from roughly 0.1 times in 2025. source
• S&P said Meta Platforms, Inc.'s leverage might exceed 1.0x if spending remains high and AI monetization takes longer than planned. source
• S&P said Meta Platforms, Inc.'s leverage could exceed 1.0x if spending stays high and AI monetization takes longer than planned. source
• Meta Platforms, Inc.'s leverage rose from about 0.1x in 2025, primarily because it leased data-center capacity, including the Beignet and Sopaipilla projects, rather than issuing debt. source