Uber Rides a Leveraged Loan Repricing Spree to Slash Debt Costs
- Company among over 100 that have shaved loan margins this year
- Ancestry.com, Clarios also marketing deals to save on interest
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Uber Technologies Inc. has a $1.5 billion leveraged loan due Friday, capitalizing on a market-sweeping repricing frenzy unleashed by low rates and robust investor demand.
The ride-sharing company’s transaction adds to a swelling tide of companies looking to pare down how much they pay on existing loans. Over 100 repricing deals have come forward so far this year, according to data compiled by Bloomberg. That’s already almost as many repricings launched in the entire year of 2020, the data show.