Meta Raises €9 Billion Through 6 Bond Tranches With Yields Up to 6.400%
Key Facts
Meta issued senior euro-denominated bonds totaling €9 billion across 6 tranches maturing between 2031 and 2065, according to the offering prospectus filed with the U.S. Securities and Exchange Commission. The company is offering investors maturities extending more than three decades, with annual interest rates ranging from 4.300% to 6.400%. The deal is part of funding the company’s expansion of AI infrastructure, including servers, data centers and networks. The issuance combines relatively shorter maturities with a bond due in 2065, with borrowing costs varying by tranche maturity. The offering details show the amount distributed across multiple maturities rather than concentrated in a single one.
The tranche due in 2031 totals about €1.75 billion and carries an annual interest rate of 4.300%, while the 2033 tranche amounts to €1.25 billion at 4.650%. The 2035 bonds total €1 billion and pay annual interest of 4.900%. Borrowing costs rise to 5.400% on the €1.75 billion 2038 tranche. The company is also issuing €1.75 billion due in 2044 at 6.050%. The longest tranche, worth €1.5 billion, is due in 2065 and pays annual interest of 6.400%.
The longer-dated tranches carry higher interest rates in this issuance, with the rate rising from 4.300% for the 2031 maturity to 6.400% for the 2065 maturity. This progression sets a disclosed cost for each maturity and allows the company to raise funding across different time periods. The largest tranche is €1.75 billion, an amount repeated for the 2031, 2038 and 2044 maturities. By comparison, the 2033 tranche amounts to about €1.25 billion, the 2035 tranche to €1 billion, while the company allocated €1.5 billion to the 2065 maturity. The prospectus confirms that the bonds’ total principal is €9 billion.
The European issuance follows Meta’s announcement on November 3, 2026, that it had raised $15 billion through a dollar-denominated bond offering across 5 tranches to help fund its accelerating investment in AI infrastructure. The euro offering adds funding in another currency and new maturities to the borrowing operation that began with the dollar deal. In October, the company raised its 2026 capital expenditure forecast to a range of $135–145 billion, from its previous range of $130–145 billion. The revision puts planned spending at a higher level than the previous estimate at its lower end. The company has linked the spending expansion to investment in the infrastructure needed to develop AI capabilities.
Meta’s capital expenditure in the first nine months of 2026 was about $85.82 billion, while net cash used in investing activities in the same period of 2025 was about $67.816 billion. Purchases of property and equipment in the nine months ended September 30, 2026, totaled about $83.06 billion. The company said those purchases came as it continued investing in servers, data centers and network infrastructure. It also disclosed $454.52 billion in non-cancelable contractual commitments as of September 30, most of which were related to cloud computing capacity, servers, networks and data center power agreements. Cash, cash equivalents and marketable securities totaled $82.45 billion on the same date.
Meta said in its third-quarter earnings statement that it expects to continue investing aggressively in 2027 to support its core business and emerging AI initiatives. It added: "We are still developing our budget and capacity plans for next year, but we expect to continue investing aggressively." The company did not provide a full-year revenue forecast in the statement. This comes as the company continues preparing its budget and capacity plans for next year, after raising its expected 2026 capital expenditure range. Together with the earlier dollar issuance, the European offering puts the funding of part of these investments at the center of the company’s stated borrowing strategy.