Facebook is planning to halve its credit line, reports the Wall Street Journal citing unnamed people with knowledge of the talks. It plans to cut the USD 3 billion credit line secured before its IPO in May to USD 1.5 billion, while extending the term of the loan from one to three years. The sources added that the plans have not yet been finalised, adding that the plan reflects how the company does not require as much money to pay tax liabilities associated with the vesting of employee stock.
