Airbnb is raising cash by issuing first-lien debt, which has priority on the company’s assets in case of a default, and it comes from a group of more than 20 investors, including Silver Lake, the largest participant
SAN FRANCISCO: Home-sharing leader Airbnb Inc lined up US$1bil in debt, adding to last week’s same-size haul and boosting a financial cushion it can use to grow and pay bills as the global coronavirus pandemic crushes demand for travel and diminishes the prospect of an initial public offering.
Airbnb is raising cash by issuing first-lien debt, which has priority on the company’s assets in case of a default, and it comes from a group of more than 20 investors, including Silver Lake, the largest participant, according to people with knowledge of the matter. Other investors are BlackRock Inc, Eaton Vance Corp, Fidelity Investments and T. Rowe Price Group Inc, said sources.
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