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Facebook Inc. (FB) the operator of the world’s most popular social-networking website, got $8 billion in financing.
The loans consist of a $5 billion five-year revolving line of credit and a $3 billion 364-day bridge loan, the Menlo Park, California-based company said today in a regulatory filing.
JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs Group Inc., Bank of America Corp. and Barclays Plc arranged both facilities.
Borrowings under the revolver will pay interest at 1 percentage points more than the London interbank offered rate, according to the filing. Lenders in the deal will be paid a 10 basis point fee on any unused portions, according to the filing.
Facebook’s new five-year credit line will replace its existing $2.5 billion revolver.
Debt under the bridge loan will initially pay interest at 1 percent more than Libor, then it will increase to 1.25 percentage points after 180 days.
Facebook, led by co-founder Mark Zuckerburg, filed for an IPO last month, pursuing what may be the largest internet offering on record.
The loans consist of a $5 billion five-year revolving line of credit and a $3 billion 364-day bridge loan, the Menlo Park, California-based company said today in a regulatory filing.
JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs Group Inc., Bank of America Corp. and Barclays Plc arranged both facilities.
Borrowings under the revolver will pay interest at 1 percentage points more than the London interbank offered rate, according to the filing. Lenders in the deal will be paid a 10 basis point fee on any unused portions, according to the filing.
Facebook’s new five-year credit line will replace its existing $2.5 billion revolver.
Debt under the bridge loan will initially pay interest at 1 percent more than Libor, then it will increase to 1.25 percentage points after 180 days.
Facebook, led by co-founder Mark Zuckerburg, filed for an IPO last month, pursuing what may be the largest internet offering on record.
