Alphabet's Waymo secures $5 billion term loan to accelerate expansion
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What happened
Oct 8 (Reuters) - Alphabet's self-driving unit Waymo on Thursday said it has closed a $5 billion term loan, marking the company's first debt financing as it looks to expand its autonomous ride-hailing service across the US and the world. (Google News · The Star, NST, The Edge (no own RSS), 22:57)
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1 reportAlphabet's Waymo secures $5 billion term loan to accelerate expansion
Oct 8 (Reuters) - Alphabet's self-driving unit Waymo on Thursday said it has closed a $5 billion term loan, marking the company's first debt financing as it looks to expand its autonomous ride-hailing service across the US and the world.
Here are some details:
- PIMCO, Blackstone and Sixth Street participated as lead syndicated lenders, while Capital Group, Loomis Sayles and T. Rowe Price were significant lenders,Waymo said
- Goldman Sachs served as the sole leadbookrunner, it added
- Waymo launched operations in its 15th US city last month and announced an expansion to Singapore
- The company closed a$16 billion equity raise earlier this year at a valuation of $126 billion
(Reporting by Prathik Jayaprakash in Bengaluru; Editing by Jonathan Ananda)
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- DetectedFirst detected (Google News · The Star, NST, The Edge (no own RSS)) source
Where it started
How it spread
- Step 1News outletsGoogle News · The Star, NST, The Edge (no own RSS)22:57
Internet reaction
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- Covered by 1 established outlet(s): Google News · The Star, NST, The Edge (no own RSS)
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