Facebook to Add Banks

Facebook reportedly plans to add banks in the next few weeks to help underwrite its initial public offering. The company is increasing its credit line in order to help pay for a tax bill relating to employee stock awards that will vest after it goes public. Facebook increased its credit line to $2.5 billion in September, and it set up a $1.5 billion credit agreement with several banks in February. Sources say the company is likely add Deutsche Bank, Credit Suisse, and Citigroup.