Facebook secures new credit deal
March 9, 2012, Friday
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Print Edition
Print Edition
FACEBOOK has a new US$5 billion credit deal, doubling a previous US$2.5 billion credit agreement as it prepares for an initial public offering.
The social networking company said in a regulatory filing on Wednesday that it has also signed a US$3 billion bridge-loan facility to pay taxes on restricted stock units in connection with its IPO. Those are employee shares that will vest when the company goes public.
Facebook has 845 million monthly active users by its own calculations although fake or duplicate accounts may represent up to 6 percent of that figure.
The social networking company said in a regulatory filing on Wednesday that it has also signed a US$3 billion bridge-loan facility to pay taxes on restricted stock units in connection with its IPO. Those are employee shares that will vest when the company goes public.
Facebook has 845 million monthly active users by its own calculations although fake or duplicate accounts may represent up to 6 percent of that figure.
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