Meta Weighs Cross-Border Bond Sale That Could Raise at Least $20 Billion

Meta is weighing a cross-border investment-grade bond sale of at least $20 billion, a potential financing move as the company plans up to $145 billion in 2026 capital expenditures.

Meta has not made a final decision on the offering, and its size could rise with investor demand. One possible structure includes five parts of U.S. dollar bonds and six parts of euro-denominated notes; final terms are not set.

Meta’s capital expenditure outlook for calendar 2026 is $135 billion to $145 billion, including principal payments on finance leases. The spending is intended to support its AI efforts and core business. As of Sept. 30, Meta held $82.45 billion in cash, cash equivalents and marketable securities. For the nine months ended Sept. 30, 2026, capital expenditures, including finance-lease principal payments, totaled $85.82 billion.

A May 2026 sale of fixed-rate senior unsecured notes brought Meta $24.91 billion in net proceeds. It also has a planned $25 billion stock offering. Investor calls with Citigroup and Morgan Stanley are scheduled for Monday, Nov. 2, and Tuesday, Nov. 3.