Facebook Halving Credit Line, Extending Term
Facebook is tweaking its credit line due to a reduction in its potential tax liability, halving the total to $1.5 billion from $3 billion, but extending its term to three years from one year, according to reports.
Facebook is tweaking its credit line due to a reduction in its potential tax liability, halving the total to $1.5 billion from $3 billion, but extending its term to three years from one year, according to reports.
Bloomberg reported that a source familiar with the transaction shared the news about the reduction and extension, adding that spokespeople for Facebook and banks involved in the financing — including Morgan Stanley, Goldman Sachs, and J.P. Morgan — would not comment.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in