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Meta Offers To Exchange Unregistered Debt Notes For Registered Notes

Benzinga · 11/15/2022 12:31
  • Meta Platforms, Inc (NASDAQ:META) has offered to exchange current unregistered senior notes of various due dates with registered secured notes of similar dates and values as there is no public market currently for the unregistered notes.
  • The terms of the Exchange Notes are identical in all material respects to the terms of the Original unregistered Notes, except that the Exchange Notes have been registered under the Securities Act of 1933.
  • It offered to exchange up to $2.75 billion of 3.500% senior notes due 2027 for up to $2,750,000,000 of our existing unregistered 3.500% Senior Notes due 2027.
  • Also Read: Meta Investor Wants Metaverse Spending Slashed, Along With Employee Jobs
  • Other unregistered notes exchange applied to $3 billion of 3.850% senior notes due 2032, $2.75 billion of 4.450% senior notes due 2052, and $1.5 billion of 4.650% senior notes due 2062.
  • Meta held $40.5 billion in cash and equivalents as of June 30.
  • Price Action: META shares traded higher by 3.43% at $118.15 on the last check Tuesday.