Airbnb raising another $1 billion in debt as coronavirus ravages tourism business

are participating in the financing, as well as Oaktree Capital, Apollo Global Management, Benefit Street Partners and Owl Rock Capital, said the people, who declined to be named because the deal hasn't been made public. Bloomberg was first to report on the financing round.

Airbnb is among the many companies tied to the tourist industry that's seen its business disappear over the past six weeks amid the rapid spread of the coronavirus. The company is refunding customers who had to cancel trips andAirbnb is paying about 9 percent interest on the new debt, the people said. That's a slightly lower rate than the interest rate on the debt piece of the announced funding round from last week, which was a mix of debt and equity.

The newest round comes with a reduced rate because it's first lien, meaning the investors will get paid out first in the event of a default. The previous financing was second lien, so investors would get paid later. The equity portion of last week's deal valued Airbnb at $18 billion, nearly half of what the company was worth in 2017.

The stocks and the company ...

At 9%!

I'm tired of hearing how a co that facilitates ppl renting their homes to vacationers are getting 1 BILLION dollars With virtually no overhead why do they need that much? I know small businesses that haven't gotten a dime Ppl aren't going to have jobs!

What does a company who owns nothing need a billion for?

At what point is this debt fueled timebomb going to destroy the dollar? Asking for a friend.

Where is ‘all this’ unlimited tapping of liquidity ‘all these’ CEOs talking about?

Airbnb is gonna have a longer recovery. Longer than hotels. Tough to prove cleaning. People don’t want outsiders in there house. Do you need 15 days in between guests?

I wouldn’t want to own that debt ...

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