Operations

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

Posted on June 15, 2016

The above image is licensed for reuse by it's creator under a Creative Commons license which permits the free use of the image for any purpose including commercial use and also permits the image to be altered.
Creator: NY - http://nyphotographic.com/
The above image is licensed for reuse by it's creator under a Creative Commons license which permits the free use of the image for any purpose including commercial use and also permits the image to be altered.
Creator: NY - http://nyphotographic.com/
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

View comments or post a comment on this story. (3 Comments)

More News

Duke’s Limousine Treats Customers Like Royalty

LCT WebXclusive: President Brandon Tiet carries on his family’s legacy of providing excellent service.

Will Uber Crash And Burn? Perhaps

An expert claims Uber has shaken up the taxi industry in a way that’s been beneficial to many consumers.

Skedaddle Works To Change Charter Bus Business

The on-demand bus app could fill a lot of down time for motorcoach operators.

Ohio Family Opens Party Bus Business

The bus includes a custom-built bathroom, color-changing LED lighting, and a SMART TV.

Metro Cars Builds Strong Affiliate Relationships

The Michigan-based operation believes in the importance of forming bonds with other ground transportation businesses.

See More News

Facebook Comments ()

Comments (3)

Post a Comment

Submit

Blogs

See More

See More

See More

See More

LCT Store

LCT Magazine - September 2016 $12.95 COVER STORY: * How Do We Max Our Markets? * *
LCT Magazine - August 2016 $12.95 COVER STORY: * Stay in the Black Despite Insurance Blues * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close