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Anthropic pre-IPO credit facility set to climb past $10 billion

Anthropic is broadening its revolving credit facility past the initial target to prepare for its much-anticipated initial public offering. Multiple banks are looking to partake in the credit line, establishing their positions in the upcoming IPO. Bolstered by a surge in revenue, Anthropic is geared for its entrance onto Wall Street this fall.

Anthropic's revolving credit facility is projected to surpass the $10 billion threshold, according to sources familiar with the matter, as the AI company prepares for its anticipated IPO. The expansion of the so-called revolver is attracting a group of banks aiming to secure prominent roles in the initial public offering. Discussions are ongoing, and Anthropic may ultimately settle for a revolver size equal to or below its target.

The company has approached the most active banks involved in the credit line to lend approximately $1.25 billion, with subsequent active banks expected to offer around $1 billion, while less active lenders could commit roughly $750 million or less. Higher commitment levels from banks typically result in higher fees for the lender, and a prominent position in the loan could indicate a more active role in the deal.

A representative for Anthropic declined to provide comment. The AI developer's pursuit of a public listing presents an opportunity to emulate successful companies like SpaceX, which increased its revolving credit facility to $5 billion in May, just a month before its record-breaking IPO. The AI race has propelled the IPO market, with listings raising $257 billion this year, the highest total since 2021.

Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

Also reported by 2 other outlets

Read the original at economictimes.indiatimes.com →

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