Twitter has secured a $1 billion credit line from banks managing its initial public offering. Goldman Sachs, Morgan Stanley and JPMorgan are among the lenders, Bloomberg reports.
The unsecured line, which is a fraction of the $8 billion obtained by Facebook before it went public last year, could help Twitter to borrow funds to cover unforeseen expenses if its trading debut is delayed, or it could be used for acquisitions, analysts say.
Twitter is scheduled to finalize the acquisition of advertising startup MoPub in November. That company had sales of $6.52 million in the first half of 2013 — up from $2.69 million for the whole of 2012 — Twitter said in a regulatory filing on Tuesday.