Twitter secures new credit line ahead of IPOOctober 22, 2013 @ 3:44 pm
(AP) - Twitter has secured a credit agreement worth up to $1 billion ahead of its initial public offering.
The blurb-based business will now have more financial flexibility going into the highly anticipated IPO.
Twitter declined to comment, citing rules about public comment preceding the offering. The company disclosed in a regulatory filing Tuesday that it secured the revolving unsecured credit facility this month.
Twitter has yet to set the exact price or timing for its market debut but it is widely expected to be complete by Thanksgiving. Its shares will trade on the New York Stock Exchange under the ticker "TWTR".
Twitter also said in the filing that it expects to close on its acquisition of mobile advertising exchange MoPub in November.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
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