Twitter gets $1-billion credit line ahead of IPO

SAN FRANCISCO -- Wall Street is rolling out the red carpet for Twitter.

The company has received a $1-billion credit line from some of the banks underwriting its initial public stock offering.

Twitter set up the agreement with lenders earlier this month, according to a regulatory filing Tuesday.

Facebook secured an $8-billion credit line and Zynga secured a $1-billion credit line from banks underwriting their IPOs. Banks extend the credit in hopes of establishing a relationship with the company.

Twitter also said that MoPub, the advertising startup it is buying for about $350 million in stock, had $6.5 million in revenue in the first half of this year, more than double the $2.7 million it had in 2012. MoPub is the largest acquisition to date for Twitter. The purchase is slated to close in November, Twitter said in the filing.

MoPub should help grow Twitter’s mobile advertising business and help it sell advertising across the Web.

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