Facebook Inc. has named 25 underwriters and received a multibillion-dollar package of financing, according to an amendment to its S-1 filing with the U.S. Securities and Exchange Commission.

The package totals $8 billion, which will include a new $5 billion credit deal and $3 billion bridge-loan facility. The new credit facility is double the $2.5 billion facility it established in 2011.

The loan facility will be used to pay taxes on employees' restricted stock units when they vest six months after the company's initial public offering. At the end of 2011, the company had $3.9 billion in cash and marketable securities, up from $1.8 billion at the end of 2010. Still, it will need additional billions of dollars to face the big tax hit.

Facebook, which has filed the prospectus for its initial public offering seeking to raise $5 billion in initial funding, is yet to set its price range for the IPO. It has to be seen how its share prices are going to grow with the advent of the IPO. Along with the rise of share price, the tax obligation will also increase.

In February 2012 ... we entered into a new agreement for an unsecured five-year revolving credit facility that allows us to borrow up to $5,000 million for general corporate purposes, Facebook said in its prospectus. Prior to our initial public offering, we can borrow up to $2,500 million under this facility. 

With the IPO approaching, it was the appropriate time for Facebook to arrange credit facilities as banks competing for a role in equity offers are willing to take special care of the company's requirements.

Citigroup Global Markets Inc., RBC Capital Markets LLC and Wells Fargo Securities LLC are included as underwriters.