EVAN DUCHARME/S.F. EXAMINER FILE PHOTOPictured: Twitter's Market Street headquarters. Not pictured: a giant pot cloud

Twitter wrapping up $1 billion IPO revolver

Online social networking tool Twitter Inc is finalizing a $1 billion revolving credit facility ahead of its expected initial public offering, sources told Thomson Reuters LPC.

Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch and Deutsche Bank are leading the deal that backs the most highly anticipated go public transaction in the technology space since Facebook Inc.

Representatives from the five banks declined to comment.

Revolving credits, which are generally used to back general corporate purposes and capital expenditures, guarantee access to funding for corporations. Companies are required to pay a commitment fee for the availability of capital even if the revolving credit remains undrawn.

Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch and Deutsche Bank are also underwriters of the IPO, which was filed publicly on October 3.

Twitter is expected to go public some time before Thanksgiving and has yet to determine pricing, according to Reuters, but analysts expect the company that posted a $69 million loss last year to seek a valuation of at least $10 billion.businessScience & TechnologyTwitter

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Report sheds light on Nuru’s nonprofit donor scheme

City contractor payments to Parks Alliance spent at direction of Public Works director

CAREN Act draws support from man who recorded viral Pac Heights video

The San Francisco man who recorded a viral video of a couple… Continue reading

Businesses to get a break with extension of commercial eviction ban

San Francisco now has state clearance to extend its commercial eviction ban… Continue reading

Plans for new Flower Mart in Potrero Hill approved

The famed San Francisco Flower Mart’s new home in Potrero Hill was… Continue reading

Bay Area’s future could include a lot more remote work

Regional planning agency approved long-term work-from-home strategy to reduce emissions

Most Read