logo-loader
viewUber Technologies Inc

Uber Technologies raises $2 billion in bond sale as it gets ready for 2019 IPO, says CNBC

Uber's IPO in 2019 could be valued at a record of more $100 billion

Uber logo.
Uber raised $2 billion in a bond sale.

The privately held ride-sharing company Uber Technologies has raised $2 billion in a junk bond sale ahead of its 2019 initial public offering, a report by CNBC said on Thursday.

Uber raised $1.5 billion through the sale of eight-year notes with a yield of 8% and got another $500 million by selling five-year notes with a yield of 7.5% in a private placement led by investment bank Morgan Stanley (NYSE:MS), the report said.

READ: Lyft is zooming past Uber in the ride-hailing IPO race

Uber's IPO could be valued at more than $100 billion, which would be a record on Wall Street after the IPO of Chinese e-commer giant Alibaba (NYSE:BABA) which raised around $25 billion in 2014, the biggest such IPO to date.

Uber's Chief Executive Dara Khosrowshahi said last month the company is on track to launch its IPO next year.

Reporting by Rene Pastor, contactable on [email protected] 

Quick facts: Uber Technologies Inc

Price: 35.13 USD

NYSE:UBER
Market: NYSE
Market Cap: $59.93 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Lexaria Bioscience and Cannadips CEO’s discuss key point of...

Lexaria BioScience (OTC: LXRP-CSE: LXX) CEO Chris Bunka and Case Mandel, CEO of Cannadips joined Steve Darling from Proactive Vancouver on Skype with news the company has signed a licensing deal for their DehydraTech technology with Cannadips from Humboldt, California. Bunka telling Proactive...

16 hours, 40 minutes ago

2 min read