Airbnb has secured commitments of $1 billion for a syndicated term loan from institutional investors, it said, according to TechCrunch.

The emergency cash injection comes as the coronavirus travel freeze continues to hammer vacation rentals, with holidaymakers locked down at home and global travel banned or heavily discouraged for public health reasons.

Neither the names of the parties to the Airbnb loan nor the terms have been disclosed but Reuters — citing several sources with knowledge of the matter — is reporting that private equity firms Silver Lake, Apollo Global Management, Sixth Street Partners, Oaktree Capital Management and Owl Rock are parties, with Silver Lake reportedly “one of the biggest players”. Though all the firms declined to comment.

Per Reuters’ sources, the loan is for five years — with an interest rate of 750 basis points over the Libor benchmark. The news agency was also told it was sold at a slight discount to the loan’s par value which would see investors earn a rate of around 12%. While the terms of the deal are first lien debt, meaning the listed creditors would be paid first if Airbnb were to default, per Reuters’ sources.

Earlier this month the vacation rentals giant announced an additional $1BN raise in debt and equity from two of the aforementioned private equity firms, Silver Lake and Sixth Street Partners. Though at the time it said the funds would support its ongoing work to invest over the long term — couching the raise as strategic, rather than a bailout in troubled times.