Weibo signs $1.2 billion facilities agreement with 23 arrangers

By Mary-Katherine Stinson

Lexington, Ky., Aug. 22 – Weibo Corp. signed a five-year $1.2 billion credit facility agreement with a group of 23 arrangers on Aug. 22, according to a 6-K filing with the Securities and Exchange Commission.

The facility consists of a $900 million five-year bullet maturity term loan and a $300 million five-year revolving facility.

Proceeds will be used for refinancing existing debt, general corporate purposes and payment of related transaction related fees and expenses.

The social media company is based in Beijing.

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