Meta Platforms seeks €9B bond, receives €53B in orders

The headline number is the demand gap, not the raise: roughly six times coverage on a single European corporate deal signals that credit investors are still hunting for duration and quality rather than repricing risk. That matters for the broader RWA and tokenized-treasury conversation, where the same institutional appetite for yield-bearing debt instruments is being courted. What's worth watching is whether this depth of order book becomes a repeatable feature of European issuance or remains a one-off tied to a single mega-cap name.