🇺🇸Anthropic’s proposed revolving credit facility may exceed $10 billion; lead banks were asked to provide $1.25 billion each.

Anthropic’s planned revolving credit facility is expected to exceed its approximately $10 billion target, according to reports citing people familiar with the financing. The facility was still being arranged, so the reported size represents an expected credit commitment rather than funded borrowing or cash already drawn by Anthropic.

The developer of Claude reportedly asked the most active lead banks to provide approximately $1.25 billion of commitments each. Banks in the next participation tier were encouraged to provide approximately $1 billion each, while less-active participants were expected to commit around $750 million or less.

Banks were reportedly competing for positions in the facility partly because higher participation and syndicate ranking can lead to larger fees and potentially more prominent roles in later capital-markets transactions. The reports connected that competition with Anthropic’s preparations for an initial public offering, but did not provide an IPO filing date, facility interest rate, maturity, collateral, covenants, or amount drawn.