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Twitter secures $1 billion credit line

Twitter secured a $1 billion line of credit ahead of its much anticipated IPO next month.
Twitter secured a $1 billion line of credit ahead of its much anticipated IPO next month. Kai Pfaffenbach

Twitter has obtained a $1 billion credit line ahead of its upcoming initial public offering, the company disclosed Tuesday in a regulatory filing. 

The micro-blogging business will now have more financial flexibility going into the highly anticipated IPO. 

Twitter declined to comment, citing rules about public comment preceding the offering.

Goldman Sachs, Morgan Stanley, JP Morgan, Bank of America Merrill Lynch and Deutsche Bank were involved in arranging the credit deal, Thomson Reuters LPC reported earlier this month. The banks are also underwriters of Twitter's IPO. 

No amounts have been drawn under the credit facility, Twitter said. 

Twitter also disclosed that MoPub, a digital advertising exchange it acquired in September, had lost $2.8 million in the first six months of the year on $6.5 million in revenue. 

Twitter paid $350 million in stock for MoPub, its largest acquisition to date. The deal is expected to close in November, according to the filing. 

Twitter has yet to set the exact price or timing for its market debut but it is widely expected to be complete by Thanksgiving. Its shares will trade on the New York Stock Exchange under the ticker "TWTR". 

Reuters and The Associated Press contributed to this report.