Meta to raise $8.5 billion in second bond offering

This file photo shows the Facebook's Meta logo sign is seen at the company headquarters in Menlo Park, Calif., Oct. 28, 2021. (PHOTO / AP)

Meta Platforms Inc is looking to raise $8.5 billion in a five-part bond offering, its second issue after it raised $10 billion last year, the company said in a filing on Monday.

ALSO READ: BlackBerry to review strategic options for its business

The Facebook-parent said the bond issue's longest 40-year security could yield 192 basis points over Treasuries.

ALSO READ: IBM 'to pause hiring in plan to replace 7,800 jobs with AI'

It will use the funds to help finance capital expenditures, repurchase outstanding shares of its common stock, and for acquisitions or investments, Meta said.

READ MORE: Source: Morgan Stanley to cut 3,000 jobs in second quarter

Last week, the company beat expectations for first-quarter profit and revenue, resulting in a 13% surge in its shares.