Uber Boosts Size of Convertible Bond Issue to $1.5 Billion
- Bond’s coupon set at 0.875%; initial size was $1.2 billion
- Issue’s conversion premium of 32.5% came at top of range
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Uber Technologies Inc. boosted the size of its planned convertible bond issue to $1.5 billion, signaling strong demand among investors.
The ride-hailing giant priced the offering with a 0.875% coupon, according to a statement, near the bottom of a marketed range. The company set a conversion premium of 32.5% at the top of the range. The announcement confirmed an earlier report by Bloomberg News.