Meta files six-part euro-notes offering after $15 billion deal

Meta Platforms filed a preliminary prospectus on Nov. 4 for six series of euro-denominated senior notes, putting the offering on record while leaving its core economic terms unresolved.

The preliminary prospectus does not specify the principal amount of any series, coupons, maturity dates, public offering prices, underwriting discounts, aggregate proceeds, estimated net proceeds or the delivery and settlement date. It documents an offering, not a priced or completed sale.

The euro transaction is separate from Meta’s preliminary five-part dollar offering, which the company priced at $15 billion on Nov. 3. The dollar-note term sheet lists five tranches: $3.25 billion due in 2031, $3.25 billion due in 2033, $4 billion due in 2036, $1.75 billion due in 2046 and $2.75 billion due in 2056. It sets Nov. 5 as the settlement date for that transaction.

Meta plans to use the euro offering’s net proceeds for general corporate purposes. The filing does not quantify those proceeds or assign them to artificial-intelligence infrastructure or another specific use.

The notes would be Meta’s unsecured and unsubordinated obligations, ranking equally with its existing and future unsecured and unsubordinated debt. They would not be guaranteed by the company’s subsidiaries.

Each series is to be issued in registered form in minimum denominations of €100,000 and additional multiples of €1,000. Book-entry delivery would take place through Clearstream and Euroclear.

Citigroup and Morgan Stanley are named as joint book-running managers. Meta intends to apply to list each series on the Nasdaq Bond Exchange and expects trading to begin within 30 days after the original issue date, subject to approval.