Twitter Inc was reportedly in talks with several banks to set up a USD1 billion or GBP623 million loan facility before its initial public listing on the US bourse. The New York Post, who said that Morgan Stanley and JP Morgan Chase had been talking to Twitter to assist the latter in its credit line facility, had also said that the IPO would be happening before November 28, which is Thanksgiving in the US.
Twitter announced earlier this month of its plan to go public but did not present a timetable. It had already filed the necessary documents with the US Securities and Exchange Commission. The company is not obliged to announce the IPO launch date until 21 days before the actual IPO.
The Post said Twitter's loan facility would be in the range of USD500 million to USD1 billion, but have yet to be finalized. The move to secure a credit facility early was said to allow Twitter more legroom to improve its company position with strategic acquisitions. It would also allow Twitter to go to capital markets to help finance its expansions offshore after the IPO.
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