Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Facebook Said to Plan Halving $3 Billion Credit Line

Facebook Inc., operator of the world’s largest social network, plans to reduce by half a $3 billion credit line due to a decline in its tax liability, a person familiar with the matter said yesterday.

The Menlo Park, California-based company also plans to extend the term of the loan to three years from one year, said the person, who asked not to be named because the matter is private.

Facebook said in March that it secured a $3 billion 364-day bridge loan to fund taxes for employees who exercise their restricted stock units. It also lined up a $5 billion five-year revolving line of credit ahead of its initial public offering in May, according to a filing.

Facebook’s tax obligations are now lower than it had expected because the value of its shares has fallen 45 percent since the IPO. The financing was arranged by banks including JPMorgan Chase & Co., Morgan Stanley, and Goldman Sachs Group Inc.

Ashley Zandy, a spokeswoman for Facebook, and Pen Pendleton, a spokesman for Morgan Stanley, declined to comment yesterday, as did Michael DuVally, a spokesman for Goldman Sachs, and Jennifer Zuccarelli, a spokeswoman for JPMorgan.

The Wall Street Journal reported earlier yesterday that Facebook planned to reduce its credit line and extend the duration of its term.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.