China’s Didi Raises $1.5 Billion in Debt Ahead of IPO
- Ride-hailing giant signs revolving loan facility with banks
- Debt deal to serve as stepping stone ahead of share sale
The logo of Didi Chuxing Inc. on a shared-bike standing on the sidewalk in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Didi Chuxing is raising $1.5 billion of debt financing from banks as the Chinese ride-hailing giant seeks to expand its firepower ahead of a potential U.S. initial public offering, according to people familiar with the matter.
Didi, backed by SoftBank Group Corp., has signed a revolving loan facility with JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs Group Inc., HSBC Holdings Plc, Barclays Plc and Citigroup Inc., the people said. A debt deal would serve as a stepping stone as Didi continues to evaluate a potential listing that could value the firm at about $100 billion, the people said, asking not to be identified because the matter is private.