The social networking company yesterday filed its initial public offering statement with the Securities and Exchange Commission. The IPO could raise as much as $10 billion, Reuters reported.

The revolving credit facility pays lenders a spread of 100 basis points over Libor if drawn. The undrawn fee is 15bp per annum, the S-1 said.

No amounts were drawn as of Dec. 31, 2011, according to the S-1.

Proceeds from amounts borrowed under the facility are to finance operations or for other corporate purposes, such as funding its tax withholding and remittance obligations in connection with the settlement of restricted stock units.

"We anticipate that we will expend substantial funds in connection with tax withholding and remittance obligations related to the initial settlement of our restricted stock units (RSUs) approximately six months following our initial public offering," said the company in the S-1.

In February 2011, the company entered into a credit agreement with five lenders to borrow up to $1.5 billion in revolving loans.

The bank group includes Morgan Stanley, JP Morgan, Goldman Sachs, Bank of America Merrill Lynch and Barclays Capital.

In September 2011, the credit agreement was amended to increase the borrowing capacity to $2.5 billion.

The company paid origination fees at closing and these fees are amortized over the remaining term of the credit facility, the filing said. (Reporting by Leela Parker, Lisa Lee - Thomson Reuters' Loan Pricing Corp.)

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