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Facebook increases credit facility, adds underwriters

March 8, 2012
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In its first full filing amendment, Facebook reported a new credit facility that will allow the social media network to borrow up to $8.0 billion. Its previous credit facility, established in 2011, allowed for a borrowings of up to $5.5 billion. Mobile advertising could see a boost from new plans to insert sponsored stories into mobile users' news feeds. Facebook also added 25 underwriters to the deal, bringing its total to 31.