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Facebook Said to Plan Halving $3 Billion Credit Line for Taxes

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.