Anthropic targets $10 B+ credit facility ahead of planned public debut, per Bloomberg.

the proposed revolver is drawing commitments above its roughly $10B target, although Anthropic could still cap the facility at or below that level.

That would be at least 4-times the $2.5B 5-year facility Anthropic closed in 2025 with seven large banks.

Larger commitments by banks generally bring higher fees and can improve a bank’s standing for related capital-markets work, including an IPO.

Anthropic is already working with Morgan Stanley, Goldman Sachs and JPMorgan on the listing.

It shows Anthropic has enough bargaining power to make bank balance sheets part of the audition for its IPO. Banks willing to commit $1B or more can improve their chances of receiving larger capital-markets roles, where the fees and prestige may dwarf the economics of the loan itself.

That gives Anthropic unusual room to negotiate credit terms because lenders are competing for business beyond the credit facility.