Airbnb has secured a new $1 billion loan, just days after obtaining similar financing, the company announced.
Among the lenders for the new loan are private equity firms Silver Lake, Apollo Global Management, Sixth Street Partners, Oaktree Capital Management, and Owl Rock, according to several sources close to the situation.
Silver Lake, one of the two investors in the financing agreement from two days ago, is ”one of the largest contributors” in the new loan agreement, one of the sources said.
The agreement stipulates that these creditors will be compensated first if Airbnb defaults, the sources specified. The new loan has a 5-year term, with an interest rate of 750 basis points over the Libor benchmark.
Representatives from Apollo, Oaktree, Silver Lake, Owl Rock, and Sixth Street declined to comment. Morgan Stanley and Goldman Sachs provided advisory services for the loan, Airbnb announced.
Frequently Asked Questions
Who are the main lenders for Airbnb’s new $1 billion loan?
The lenders include private equity firms Silver Lake, Apollo Global Management, Sixth Street Partners, Oaktree Capital Management, and Owl Rock.
What are the terms of the new Airbnb loan?
The loan has a 5-year term with an interest rate of 750 basis points above the Libor benchmark and includes senior debt status.
Which banks advised Airbnb on this financing deal?
Morgan Stanley and Goldman Sachs acted as advisors for the $1 billion loan agreement.