Meta Platforms debut $10 billion senior notes offering
We advised Meta on the investment-grade debt offering
Davis Polk advised Meta Platforms, Inc. in connection with its debut debt offering in a Rule 144A / Regulation S offering of $2.75 billion aggregate principal amount of its 3.500% senior notes due 2027, $3.00 billion aggregate principal amount of its 3.850% senior notes due 2032, $2.75 billion aggregate principal amount of its 4.450% senior notes due 2052 and $1.50 billion aggregate principal amount of its 4.650% senior notes due 2062. Meta intends to use the net proceeds from the offering for general corporate purposes, which may include, but are not limited to, capital expenditures, repurchases of outstanding shares of its common stock, acquisitions or investments.
Meta builds technologies that help people connect, find communities, and grow businesses. When Facebook launched in 2004, it changed the way people connect. Apps like Messenger, Instagram, and WhatsApp further empowered billions around the world. Now, Meta is moving beyond 2D screens toward immersive experiences like augmented and virtual reality to help build the next evolution in social technology.
The Davis Polk capital markets team included partners Michael Kaplan and Derek Dostal, counsel Hillary A. Coleman, associates Jonathan I. Stempel, Kamil Turkmani, ChengJun Koh and José Miguel Fernández. The tax team included partner Lucy W. Farr. The intellectual property and technology transactions team included partner Frank J. Azzopardi. Counsel Charles Shi provided executive compensation advice. All members of the Davis Polk team are based in the New York office.