Uber Increases Loan Offering as Investors Downplay Bad News
- Loan upsized after Uber annnouces autonomous vehicle fatality
- For yield hungry investors valuation is too good to ignore
Th Uber Technologies Inc. car service app.
Photographer: Victor J. Blue/Bloomberg
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Uber Technologies Inc. is borrowing more than it originally planned in the U.S. leveraged loan market, where a decision by the ride-hailing company to halt autonomous vehicle tests following a fatality isn’t deterring investor demand.
The company on Monday said it’s boosting the size of a proposed loan that will fuel growth to $1.5 billion from $1.25 billion. Potential lenders said their decision to lend won’t be impacted by the accident, according to people with knowledge of the matter.