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Meta (NASDAQ:META) is reportedly lining up its first bond sale, according to an article by Bloomberg Wednesday.
Bloomberg said its sources revealed the company has requested banks such as Morgan Stanley, JPMorgan, Bank of America and Barclays to arrange investor meetings for the potential bond sale.
Meta is said to be holding a series of fixed-income investor calls Wednesday, with a senior unsecured debt offering potentially following.
Facebook parent company Meta has not entered the bond market despite other large-cap technology companies previously borrowing significantly at low rates while having big cash piles.
In its second-quarter earnings report, Meta stated cash, cash equivalents, and marketable securities were $40.49 billion as of June 30.
Meta shares are up 4% Wednesday.
