Twitter closed a $500 million revolving credit facility with JPMorgan as administrative agent, sole lead arranger and sole bookrunner.

According to a related 8-K filing, the credit agreement provides for an unsecured revolving loan facility in the aggregate principal amount of $500 million. The agreement requires certain material domestic subsidiaries of the company guarantee the facility’s obligations. As of August 10, 2018, there were no guarantors under the credit agreement nor any outstanding revolving loans.

The proceeds of the loans may be used by Twitter for general corporate purposes of the company and its subsidiaries. The company may borrow, repay and reborrow funds under the revolving facility until its maturity on August 7, 2023, at which time the facility will terminate, and all outstanding loans under it, together with all accrued and unpaid interest, must be repaid. Revolving loans may be prepaid and revolving loan commitments may be permanently reduced by the company in whole or in part, subject to certain minimum thresholds, without penalty or premium, subject to customary breakage costs.

Borrowings will bear interest, at the company’s option, at either the alternate base rate plus the applicable rate or the adjusted LIBOR plus the applicable rate. The applicable rate in each case is determined based on the company’s total leverage ratio.