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Airbnb in advanced talks about new $1.4b loan: Sources

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NEW YORK (REUTERS) - Airbnb is in advanced talks for a new US$1 billion (S$1.41 billion) loan just days after the U.S. home rental company closed a US$1 billion debt deal with private equity firms, people familiar with the matter said on Tuesday (April 14).. Read more at straitstimes.com.

NEW YORK - Airbnb is in advanced talks for a new US$1 billion loan just days after the US home rental company closed a US$1 billion debt deal with private equity firms, people familiar with the matter said on Tuesday .

The terms being discussed are first lien debt, meaning these creditors would be paid first if Airbnb were to default, the sources added. Airbnb is discussing a five-year loan which would have an interest rate of 750 basis points over the Libor benchmark, and is being sold to investors at a slight discount to the loan's par value which would see them earn a rate of around 12 per cent.

The sources requested anonymity as the matter is private. Airbnb, Apollo, Oaktree, Silver Lake and Sixth Street declined to comment. Owl Rock did not immediately respond to requests for comment.

 

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