Uber enters investment-grade bond market with $4 billion offering
Uber
Uber Technologies Inc. is tapping the US investment-grade bond market for the first time since it attained the status of a blue-chip company.
It sold $4 billion of bonds in three pieces, said a person familiar with the matter, who asked not to be identified because the details are private. The longest piece of the offering, a 30-year security, priced at 1.3 percentage points over Treasuries after initial talks of about 1.6 percentage points, said the person.
Early demand indications were around $8 billion following investor calls Tuesday, according to people with knowledge of the matter. Morgan Stanley, BofA Securities Inc. and JPMorgan Chase & Co. managed the bond sale.
Uber didn't immediately respond to a request for comment. Representatives for BofA, JPMorgan and Morgan Stanley declined to comment.
The deal was attractive because of the company's record profitability in the second quarter, double-digit bookings, and top-line growth, according to Bloomberg Intelligence analyst Robert Schiffman. "Rapidly improving free cash flow trends should continue to propel Uber's ratings higher over the next few years," he added.
The proceeds from the offering are assumed to be used by Uber to repay about $1.97 billion of outstanding loans as of the end of June, and the remainder will be used to redeem $1.5 billion worth of 8 per cent senior notes due 2026 and for general corporate purpose, said the people.
)
‘Pursue your goals’: Indian-origin philanthropist pays off loans for entire graduating class in US
)
Cannes Film Festival 2026: Alia Bhatt blends Indian heritage with global glamour in stunning strapless gown
&im=FitAndFill=(700,400))
BrahMos vs Agni-V: How India’s tactical missile differs from its nuclear giant
&im=FitAndFill=(700,400))
36,000-pound thrust: 5 ways China's J-20 fighter jet's new engine can completely changes the aerial balance
)
What happened to Brandon Clarke? Memphis Grizzlies player passes way at 29
&im=FitAndFill=(700,400))
‘Not just chest pain’: 5 warning signs your body gives before a heart attack
&im=FitAndFill=(700,400))
Cannes Film Festival 2026 day 1: Peter Jackson honoured, Alia Bhatt stuns in peach
&im=FitAndFill=(700,400))
7 reasons why China is mass-producing Chengdu J-20 stealth fighter jets faster than ever
)
Kannada actor Dileep Raj dies after suffering a massive heart attack
&im=FitAndFill=(700,400))
'Flight Deck Boots': Why USS Abraham Lincoln sailors wear extremely heavy shoes
)
How did Marco Rubio, who’s under sanction by Beijing, get permission to travel to China for the first time?
)
Antarctic cosmic dust proves Earth has been traversing through supernova debris for 80,000 years
&im=FitAndFill=(700,400))
'Hydraulic Arms': How the USS Abraham Lincoln pops up its emergency net
&im=FitAndFill=(700,400))
‘Robotic warfare’: How the Chengdu J-20 can rewrite the rules of aerial combat
)
Armageddon in 15 years? A 2040 forecast about THIS river is triggering 'end times' warnings
&im=FitAndFill=(700,400))
Monster El Nino in 2026 will be the most devastating the world has witnessed in 150 years
&im=FitAndFill=(700,400))
4 captains who could be sacked after IPL 2026
)
Inside India’s women’s rowing revolution: Science, sacrifice and the hunt for medals
&im=FitAndFill=(700,400))
Why defense analysts believe China’s Chengdu J-20 stealth fighter program has entered a dangerous new era
&im=FitAndFill=(700,400))
'Night Vision': Why the USS Abraham Lincoln bans white flashlights on deck
)
PM Modi’s WFH advisory: How IT companies and industry leaders are responding
)
Saudi Arabia 'secretly' launched retaliatory airstrikes on Iran amid regional war escalation: Report
)
Who is Radhan Pandit? Astrolger who predicted Vijay's victory, appointed OSD to Tamil Nadu CM
&im=FitAndFill=(700,400))
'He is alive but...': Netanyahu issues BIG statement about Mojtaba Khamenei, his whereabouts; admits Israel and US failed to foresee Hormuz crisis
)
Mulayam Singh Yadav's son and Akhilesh Yadav's step-brother Prateek Yadav passes away under unclear circumstances: Who was he
&im=FitAndFill=(700,400))
New York exhibition displays 3.5 million pages of Epstein Files, highlights his relations with Trump | IN PICS
)
Vijay wins Tamil Nadu floor test, DMK abstains from voting; AIADMK splits
&im=FitAndFill=(700,400))
'Sleep Deprived': How the USS Abraham Lincoln crew survives endless night operations
)
India's Green Mirage: Northeast is quietly losing its forest cover while India celebrates gains
)
‘Travel Secrets of the World’s Elites’: How global icons, CEOs, and royals plan holidays
)
India raises gold, silver import duty. What does it mean for the buyers and falling rupee?
&im=FitAndFill=(700,400))
New OTT releases this week (May 11-17, 2026): Kartavya to Dhurandhar: The Revenge- 8 new movies and TV shows on Netflix, Prime Video and more
Who won yesterday's IPL 2026 match between SunRisers Hyderabad vs Gujarat Titans? Check result
&im=FitAndFill=(700,400))
Xi-Trump summit: Will the meeting bring a resolution to the war with Iran & end Hormuz blockade?
&im=FitAndFill=(700,400))
Trump breaks silence on report of Pakistan allowing Iran spy aircraft at Nur Khan base amid mediation talks
)
The company's credit rating was first upgraded to BBB- by S&P Global Ratings from BB+ on Aug. 16. Days later, Fitch Ratings assigned Uber a BBB grade and, on Aug. 27, Moody's Ratings also raised the firm to investment grade.