Anthropic is assembling a revolving credit facility expected to surpass its roughly $10 billion target, as the AI company moves toward a public listing, according to Reuters.

Banks are competing for a share of the expanded credit line, viewing involvement as a way to bolster their standing when Anthropic selects underwriters for its IPO, according to Reuters, citing Bloomberg News. The company behind the Claude chatbot confidentially filed for a U.S. initial public offering in June.

The structure of the facility assigns different commitment levels based on a bank’s level of involvement. Banks taking the most prominent arranging roles have received requests for commitments of about $1.25 billion apiece, with those in a secondary tier being guided toward roughly $1 billion. Banks with smaller roles in the deal are expected to contribute somewhere below $750 million.

The talks remain ongoing, and Anthropic could still opt to cap the facility at its original target or even below it.

https://finance.yahoo.com/technology/ai/articles/anthropic-pre-ipo-credit-facility-120320361.html