<p>Social networking website Facebook, which has at least 46 million active users in India, has secured credit deal worth a whopping USD 8 billion from a consortium of banks before its initial public offering.<br /><br /></p>.<p>In a filing to Securities and Exchange Commission (SEC) yesterday, Facebook said that it has terminated the credit facility agreement inked with Braclays Capital and others that granted the company the borrowing capacity of USD 2,500 million.<br /><br />The company's filing said that in February 2012 it entered in to new agreement for an unsecured five-year revolving credit facility that will allow it to borrow up to USD 5 billion from consortium of banks which include, Citigroup Global Markets, Credit Suisse Securities (USA), Deutsche Bank Securities, RBC Capital Markets and others.<br /><br />The social networking giant has entered into a bridge credit facility with the lenders that are parties to its new revolving credit facility.<br /><br />"This bridge credit facility allows us to borrow up to USD 3,000 million to fund tax withholding and remittance obligations related to the settlement of RSUs (Restricted Stock Units) in connection with our initial public offering," Facebook filing said.<br /><br />India is second largest market for the social networking website after United States. The company said that it is experiencing rapid revenue growth in markets such as Brazil and <br />India due to growth in the number of users and their engagement and an increase in our sales efforts in those markets.<br /><br />Facebook in its filing said that as on December 31, 2011 it had 46 million MAUs in India, an increase of 132 per cent from the prior year.<br /><br />There are 37 million monthly active users (MAUs) in Brazil representing an increase of 268 per cent and 161 million MAUs in the United States, an increase of 16 per cent.<br />The company said that it seeing a surge in daily active users as well in these markets due to increased usage of mobile phones.<br /><br />In 2012, the company said that it anticipates making overall capital expenditures of approximately USD 1.6 billion to USD 1.8 billion, a portion of which will be financed through its leasing arrangements.</p>
<p>Social networking website Facebook, which has at least 46 million active users in India, has secured credit deal worth a whopping USD 8 billion from a consortium of banks before its initial public offering.<br /><br /></p>.<p>In a filing to Securities and Exchange Commission (SEC) yesterday, Facebook said that it has terminated the credit facility agreement inked with Braclays Capital and others that granted the company the borrowing capacity of USD 2,500 million.<br /><br />The company's filing said that in February 2012 it entered in to new agreement for an unsecured five-year revolving credit facility that will allow it to borrow up to USD 5 billion from consortium of banks which include, Citigroup Global Markets, Credit Suisse Securities (USA), Deutsche Bank Securities, RBC Capital Markets and others.<br /><br />The social networking giant has entered into a bridge credit facility with the lenders that are parties to its new revolving credit facility.<br /><br />"This bridge credit facility allows us to borrow up to USD 3,000 million to fund tax withholding and remittance obligations related to the settlement of RSUs (Restricted Stock Units) in connection with our initial public offering," Facebook filing said.<br /><br />India is second largest market for the social networking website after United States. The company said that it is experiencing rapid revenue growth in markets such as Brazil and <br />India due to growth in the number of users and their engagement and an increase in our sales efforts in those markets.<br /><br />Facebook in its filing said that as on December 31, 2011 it had 46 million MAUs in India, an increase of 132 per cent from the prior year.<br /><br />There are 37 million monthly active users (MAUs) in Brazil representing an increase of 268 per cent and 161 million MAUs in the United States, an increase of 16 per cent.<br />The company said that it seeing a surge in daily active users as well in these markets due to increased usage of mobile phones.<br /><br />In 2012, the company said that it anticipates making overall capital expenditures of approximately USD 1.6 billion to USD 1.8 billion, a portion of which will be financed through its leasing arrangements.</p>