Limousine Finder: Uber Seeking Up To $2 Billion In High-Risk Loans

Thursday, June 16, 2016

Uber Seeking Up To $2 Billion In High-Risk Loans

Today, The Wall Street Journal reported Uber, the world’s wealthiest startup, is seeking up to $2 billion in loans from institutional investors, as it continues to bleed cash in most of its markets outside the US. The money would come from the leveraged-loan market, which is an untraditional place for startups like Uber to seek cash.

According to the Journal, Uber is tapping two banks, Barclays and Morgan Stanley, to sell a leveraged loan of $1 billion to $2 billion, although there is no guarantee the deal will take place. Uber is also planning on issuing debt in the coming weeks, but no word on how much. The move comes on the heels of the ride-hailing company’s sale of $3.5 billion in equity from Saudi Arabia’s Public Investment Fund.

The Verge article here