As slowdown bites, Airbnb seeks extension of $1-bn debt facility from banks

Airbnb's revenue in 2019 exceeded $4.8 billion, up 35% on year, excluding any foreign exchange impacts

Airbnb Inc on Wednesday held a phone meeting with bankers to discuss extending an existing $1 billion debt facility as the home rental start-up grapples with a slowdown due to the coronavirus, a source who participated in the meeting said. The deliberations echo that of many US companies that have been rushing to borrow more money and boost their cash coffers as the fallout from the pandemic threatens a prolonged downturn.

Airbnb's current debt facility was agreed in 2016 and was led by JPMorgan, Citigroup Inc, Morgan Stanley , Bank of America Corp, Goldman Sachs and Barclays. Airbnb has never