Airbnb Inc is planning to terminate a $1 billion credit facility following an investment of the same amount it secured from private equity firms Silver Lake and Sixth Street Partners, people familiar with the matter said on Tuesday.
The deal with Silver Lake and Sixth Street is comprised of $1 billion in five-year debt yielding 11% to 12% and warrants that can convert into stock equating to a little over 1% of Airbnb’s total equity, the sources said. They requested anonymity as the terms are confidential.
Airbnb is now also in talks with banks about a new line of credit that could be worth as much as $750 million or $1 billion, one source said. The price at which Silver Lake and Sixth Street can exercise its warrants values Airbnb at $18 billion, below the $26 billion Airbnb was most valued in early March in its internal valuation, another source said.Silver Lake is targeting a valuation for Airbnb of $40 billion to $50 billion to hit its return target, one of the sources said, declining to provide more details.
Airbnb declined to comment. Silver Lake Sixth Street and Bank of America did not immediately respond to requests for comment.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Airbnb is raising $1 billion amid fallout from coronanvirusCNBC's Deirdre Bosa reports on how Airbnb is trying to assist its hosts.
Lire la suite »
WSJ News Exclusive | Airbnb Paying More Than 10% Interest on $1 Billion Financing Announced MondayAirbnb Inc. agreed to pay its new investors interest at a rate of more than 10%, and to strengthen its leadership, in return for the $1 billion in additional funding announced Monday, according to people familiar with the matter
Lire la suite »
Thrive Causemetics Pledges $1 Million to Covid-19 Relief EffortsAfter raising an initial $350,000, the company has expanded its fundraising mission.
Lire la suite »
SheaMoisture Launches $1 Million COVID-19 Relief Fund for Women of Color EntrepreneursThose affected by store closures are encouraged to sign up ASAP.
Lire la suite »
S&P 500 set to recover $1 trillion in value as virus deaths slowThe S&P 500 was on track to recover about $1 trillion in market value in a furious rally on Monday after a drop in the daily death toll in New York, the country's biggest coronavirus hot spot, raised hopes that the pandemic could level off soon.
Lire la suite »