logo
Share SHARE
FONT-SIZE Plus   Neg

Twitter Obtains $1 Bln Credit Facility

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

More Breaking News

0 Articles
Editors Pick
Poultry giant Sanderson Farms has blamed the national anthem protests in National Football League for its lower sales for the fourth-quarter and full year. Sanderson Farms, which is one of the biggest chicken providers in the US, said that NFL protests involving players taking a knee during the national... Amazon would reportedly sell Google's Chromecast streaming adapter for this Christmas. The online retailer giant has banned the product from its site for the last two years and has presumably settle the issues. Though the product is not available for sale, it has listed 4K-capable Chromecast Ultra adapter. Europe's no-frills airline Ryanair recognized pilot union for a smooth holiday season ahead. The airline had a discussion with its pilots union in Britain, Germany, Italy, Spain, Ireland, Portugal to iron out the issues. The pilots working for Ryanair have been enjoying different status and many of them were reportedly not in the rolls as full timers.
comments powered by Disqus
Follow RTT