Airbnb gets $1 billion debt facility from U.S. banks: source

© Reuters. A 3D printed individuals’s designs are seen in front of a displayed Airbnb logo in this illustration

(Reuters) – Apartment-sharing startup Airbnb Inc has actually secured a $1 billion debt center from some huge U.S. banks to aid its brand-new services and finance its expansion plans, a source near the company stated. JPMorgan (NYSE:-RRB-, Citigroup Inc (NYSE:-RRB-, Morgan Stanley (NYSE:-RRB- and Bank of America Corp (NYSE:-RRB- led the financial obligation deal, the source stated. Airbnb, which expects to achieve profitability in 2016, raised over $100 million in a round of financing late last year. Bloomberg reported the funding deal previously on Wednesday. Citigroup and Bank of America declined to comment. Representatives at JPMorgan and Morgan Stanley were not instantly offered for comment outside routine U.S. company hours. Priceline, Expedia (NASDAQ:-RRB- and other travel companies have actually been facing increased pressure in their hotel reservations business from the rise of start-ups such as Airbnb. Disclaimer: Blend Media wish to remind you that the information contained in this website is not always real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex rates are not supplied by exchanges but rather by market makers, and so prices might not be precise and might differ from the actual market price, indicating costs are a sign and not appropriate for trading purposes. For that reason Blend Media does n`t bear any responsibility for any trading losses you might incur as an outcome of using this data. Fusion Media or anybody involved with Fusion Media will not accept any liability for loss or damage as an outcome of reliance on the details including information, quotes, charts and buy/sell signals contained within this site. Please be completely notified regarding the dangers and expenses connected with trading the financial markets, it is one of the riskiest investment forms possible.

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