The social-media company said proceeds from the sale would be used for general corporate purposes. On Wednesday, the company said it planned to “aggressively” increase spending on artificial intelligence.
Shares were recently down around 11%, with investors concerned that Meta’s revenue isn’t keeping pace with outsized expenditure.
Meta’s bonds also fell in morning trading, pushing up yields.
The additional yield, or spread, that investors demand to hold its 5.4% bonds due in 2054 over U.S. Treasurys climbed to around 0.95 percentage point, according to MarketAxess. That was up from about 0.81 percentage point on Wednesday.