NEW YORK/BOSTON: Airbnb, whose home rental business is suffering as the coronavirus pandemic freezes global travel, has secured a new US$1 billion loan just days after closing a US$1 billion debt deal, the company said on Tuesday.
The terms of the new deal are first lien debt, meaning these creditors would be paid first if Airbnb were to default, the sources said. The loan is for five years, with an interest rate of 750 basis points over the Libor benchmark, they said, adding that it was sold at a slight discount to the loan's par value which would see investors earn a rate of around 12per cent.
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