Ride hailing company Uber Technologies has increased the size of its debut high-yield bond to US$2bn from US$1.5bn, five market sources told IFR on Wednesday.
The deal is expected to allocate on Thursday, two of the sources said.
The eight-year non-call three year tranche has been upsized to US$1.5bn from US$1bn and is expected to yield 8%, while the five-year non-call two tranche is expected to be US$500m at a yield of 7.5%, the five sources said.
Morgan Stanley, which is working with Uber on marketing the 4(a)(2) private placement, declined to comment. Uber declined to comment.
