Wednesday March 07, 2012

Facebook Enters New $5.5 Billion Credit Deal

If you were amazed at Facebook's $2.5B credit deal last week, hold on to your seats because this week it's $5.5 billion.

Facebook has a new $5 billion credit deal, doubling a previous $2.5 billion credit agreement as it prepares for an initial public offering. The social networking company based in Menlo Park, California, said in a regulatory filing Wednesday that it has also signed a $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.