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Uber Calls Lenders for $1.25 Billion in Wall Street Shortcut

  • CEO Khosrowshahi pitched investors directly Friday in N.Y.
  • Unprofitable Uber is atypical borrower in leveraged-loan world
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Bloomberg’s Jason Kelly reports on a presentation given by Uber’s new ceo.(Source: Bloomberg)
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Inside New York’s St. Regis Hotel on Friday, debt investors were given what’s becoming a familiar pitch: a high-flying tech company with a charismatic leader but no real cash flow was asking them to lend it money.

This time it was Uber Technologies Inc., the ride-hailing company that’s reshaped the taxi business around the globe. The company is seeking a $1.25 billion loan and its new Chief Executive Officer Dara Khosrowshahi was there flanked by other senior management to pitch investors both the deal -- and the Uber dream.