Ride hailing company Uber Technologies priced its US$2bn debut high-yield bond on Thursday, sources told IFR.
The US$1.5bn eight-year non-call three year bond, which was increased from US$1bn, priced at par to yield 8% and the US$500m five-year non-call two tranche priced at par to yield 7.5%, the sources said. nL2N1WY0NS
Both of the bonds were bid higher in the secondary market at 100.375, one of the sources said.
Order books for the 4(a)(2) private placement were heard to be around US$3bn, and included orders from more than 50 investors, the source said.
Uber declined to comment. Morgan Stanley, the left lead placement agent, declined to comment.