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Twitter Obtains $1 Bln Credit Facility

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Twitter Inc., which is readying for an initial public offering, obtained $1 billion credit facility this month, the social media company said in a regulatory filing.

The offering's lead underwriter Goldman Sachs Group Inc. (GS) is providing $150 million, while Morgan Stanley (MS) and JPMorgan Chase & Co. (JPM) are contributing $250 million each.

Other lenders include Bank of America Corp. (BAC) and Deutsche Bank AG (DB). The revolving unsecured credit facility matures in 2018. As of October 22, no amounts were drawn under the credit facility.

It was on October 3 that the social media giant announced its plan to raise up to $1 billion in an initial public offering. The company said it intends to apply to list its common stock under the ticker symbol 'TWTR'.

Twitter also said MoPub Inc., a mobile-focused advertising exchange that it agreed to buy on September 9, generated revenues of $6.52 million in the first half of 2013, compared to $2.69 million in fiscal 2012.

MoPub receives a fee from transactions completed by its customers and publishers on the exchange that it operates.

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by RTT Staff Writer

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