Uber Borrows $2 Billion in Debut Bond Sale
With IPO still months away, firm used private placement to raise cash.
Uber Technologies Inc. sold its first-ever bonds late Wednesday, issuing $2 billion of debt to fund operations as it prepares for an initial public stock offering expected next year.
The deal attracted enough interest from investors for underwriter Morgan Stanley to increase the size of the offering from an initial proposal of $1.5 billion. The ride-hailing company took pains to place the bonds with investors who have a longer-term interest in the company, people familiar with the matter said.
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