Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Twitter Obtains $1 Bln Credit Facility

RELATED NEWS
Trade TWTR now with 
10/23/2013 12:56 AM ET

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.

Click here to receive FREE breaking news email alerts for Twitter, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Chipmaker Advanced Micro Devices Inc. said Thursday after the markets closed that its first quarter loss narrowed from last year, helped by strong revenue growth in its graphics and visual solutions business. The company's quarterly earnings per share, excluding items, also came in above analysts' expectations as did its quarterly revenue. After trending higher over the past few sessions, stocks showed a lack of direction throughout the trading day on Thursday. The major averages spent the session bouncing back and forth across the unchanged line before ending the day mixed. While the major averages closed on opposite sides of the unchanged line, they all showed only modest moves. U.S. Secretary Of State John Kerry said Thursday that he and his counterparts from Russia, Ukraine and the European Union have reached an agreement on a preliminary plan for ending the ongoing crisis in Ukraine. Kerry was speaking at the end of the Ukraine contact group's first meeting, comprising the foreign ministers of Russia, Ukraine, the EU and the U.S., in the Swiss city of Geneva.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.