Anthropic pre-IPO credit facility set to climb past $10 billion
Anthropic PBC’s revolving credit facility is set to rise above its roughly $10 billion target, according to people familiar with the matter, as the artificial intelligence firm prepares for a highly anticipated initial public offering.The Claude chatbot maker’s proposed expansion of its so-called revolver is drawing a clutch of banks seeking to bolster their pitch for roles on the IPO, said the people, who asked not to be identified because the information isn’t public. Discussions are ongoing and the company could decide to limit the size of the revolver to the target or even below, the people said.Anthropic has asked the most active banks leading the credit line to lend about $1.25 billion, with the next level of active banks being encouraged to offer around $1 billion, and with the commitments dropping to roughly $750 million and lower for less active roles, some of the people said.Generally, in syndicated loans, the higher the commitment of a bank, the higher the fees it gets paid ...