Uber raises more than $1.35 billion with first ever leveraged loan, WSJ reports

Uber raises more than $1.35 billion with first ever leveraged loan, WSJ reports

Ride-hailing operator Uber has raised $1.15 billion (S$1.55 billion) from a new high-yield loan, the Wall Street Journal reported, citing a person family with the matter.

The leveraged loan is Uber's first and brings the amount the company has raised in debt and equity to more than $15 billion, the WSJ wrote.

Uber will pay about 5 per cent yield on the leveraged loan, added the newspaper, which noted that by issuing debt rather than equity, the company helped its shareholders preserve their stakes in the company. Chief executive Travis Kalanick told CNBC in March that he did not expect the company to go public in the near future, saying he currently preferred private funding.

To read the full WSJ report, click here.

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