Home Web Internet Twitter lands $1 billion credit line ahead of IPO

Twitter lands $1 billion credit line ahead of IPO

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Twitter Inc has got a $1 billion credit line ahead of its preliminary public offering, the company disclosed Tuesday in an amended investor prospectus. Goldman Sachs, Morgan Stanley, JP Morgan, Bank of The usa Merrill Lynch, and Deutsche financial institution were occupied with arranging the credit score deal, Thomson Reuters LPC stated before this month. The banks are also underwriters of Twitter’s IPO.

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No quantities were drawn under the credit facility, Twitter stated. The micro-running blog company, essentially the most intently watched social media IPO prospect on account that Facebook went a public ultimate year, is anticipated to begin buying and selling on the New York stock exchange by using mid-November.

Twitter also disclosed that MoPub Inc, a digital promotion exchange it got in September, had lost $2.8 million within the first six months of the 12 months on $6.5 million in revenue. Twitter paid $350 million in inventory for MoPub, its biggest acquisition so far. The deal is expected to close in November, following the submitting.