IPO

Facebook adds 25 more underwriters for IPO

Reuters News
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Posted: Mar 07, 2012 6:24 PM

By Alistair Barr

SAN FRANCISCO (Reuters) - Facebook Inc added 25 banks to help underwrite the company's initial public offering, meaning most of Wall Street will have a role in the share sale, according to an amended IPO filing on Wednesday.

The new banks, including Citigroup, Credit Suisse and Deutsche Bank, increase the number of underwriters on the deal to 31, the filing said.

Facebook also disclosed a new $5 billion credit facility, replacing the previous $2.5 billion credit line. The company also entered into a "bridge" credit facility, allowing it to borrow up to $3 billion, the filing showed.

(Reporting By Alistair Barr; editing by Carol Bishopric)