Meta said on November 3 that it is raising $15 billion through a five-part US dollar bond offering, turning to debt markets to help finance its accelerating AI infrastructure spending, Reuters reported. The sale includes $3.25 billion of notes due in 2031 at a 5.85% coupon and another $3.25 billion due in 2033 at 6.25%, according to a regulatory filing.

It is Meta's third big trip to the bond market in little over a year, after a $25 billion sale in April and a $30 billion offering last year. The new debt also lands days after Meta expanded plans for what could become a $97.5 billion equity raise.

Meta has said it expects capital expenditure of $135 billion to $145 billion this year, largely driven by AI. Moody's rated the new debt Aa3, and Meta's total debt stood at $83.67 billion as of September 30, per LSEG data — a striking shift for a company that historically funded growth from cash on hand.