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Meta Platforms

shares rose Wednesday next a report that the social media huge could become the most current tech corporation to change to the bond markets in a bid to increase funds.

Fb parent Meta (ticker:

META

) has asked banks to keep meetings with investors to arrange a prospective bond sale, Bloomberg noted on Wednesday, citing people today acquainted with the subject. This would be Meta’s first ever bond issuance.

Meta stock was up 5.6% to $169.11 on Wednesday. The

S&P 500

was attaining 1.5%, while the tech-large

Nasdaq Composite

was up 2.5%. The

Dow Jones Industrial Regular

rose 1.3%.

A Meta spokesperson refused to remark to Barron’s or affirm the report.

“We continually consider our liquidity and funds assets, which includes our accessibility to external money, to guarantee we can finance our upcoming cash needs,” Meta reported in a quarterly filing very last week with the Securities and Exchange Commission.

Moody’s assigned Meta an A1 credit score score on Wednesday, saying the company’s outlook and economic fundamentals ended up secure. Still, the enterprise is 1 of 18 corporations in the S&P 500 that does not have exceptional small or prolonged-term financial debt, excluding lease liabilities, in accordance to Bloomberg.

“It’s incredibly abnormal for them not to have gone to the bond current market all this time,” reported Ken Mahoney, CEO of Mahoney Asset Administration.

Businesses can have many good reasons for…