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Uber Raises Another $100 Million in Return to Junk Bond Market

  • Add-on deal came after company said it was cutting 3,000 jobs
  • Bonds sold at same price as $900 million offering last week
Bloomberg business news
Watch: Uber Technologies Inc. eliminated an additional 3,000 jobs on Monday, is closing dozens of offices around the world and is shutting down many of its side projects in an effort to weather the coronavirus pandemic.(Source: Bloomberg)

Uber Technologies Inc. sold an additional $100 million of high-yield notes on Monday, adding to an offering it priced last week.

Proceeds will be used for general corporate purposes and to add more cash to its balance sheet. The ride-hailing company said earlier Monday that it will cut another 3,000 jobs and close dozens of offices to help shore up a business that’s suffering amid the coronavirus pandemic.