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By Matthew Monks and Michelle F. Davis
Robinhood Markets Inc. is seeking to boost its bank loans ahead of an initial public offering, according to people familiar with the matter.
The company, which pitches its trading platform to novice investors, has been holding talks with lenders about adding to its revolving credit lines, said the people, who asked to not be identified because the matter isn’t public. It isn’t clear how much the company is seeking.
Companies often secure a credit line before going public and this will make sure Robinhood has a strong capital and liquidity position, one of the people said.
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04/08/2021 08:00 AM EDT
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