Meta's euro bond rose above par on its trading debut, with record €62 billion in subscription orders.
Original headlineMeta 欧元债券上市即涨超面值 620 亿欧元认购订单创纪录
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Meta’s newly issued six-tranche euro bond, totaling €9 billion ($10.1 billion), is trading above par after the deal drew a record €62 billion order book, more than double the previous €31 billion European corporate bond record set by AB InBev a decade ago. The bonds were priced just under 100 cents per euro and all six maturities rose in Thursday trading, with even bid quotes exceeding face value. Demand was driven by the credit spread Meta offered, which was far wider than those of other euro-issuing hyperscale technology companies and closer to levels seen on bonds rated several notches below Meta’s AA rating. The record subscription underscores strong investor appetite for high-quality corporate paper offering elevated spreads.
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Meta (META), AB InBev
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