Uber Technologies raises $2 billion in bond sale as it gets ready for 2019 IPO, says CNBC

The privately held ride-sharing company Uber Technologies has raised $2 billion in a junk bond sale ahead of its 2019 initial public offering, a report by CNBC said on Thursday.

Uber raised $1.5 billion through the sale of eight-year notes with a yield of 8% and got another $500 million by selling five-year notes with a yield of 7.5% in a private placement led by investment bank Morgan Stanley (NYSE:MS), the report said.

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Uber’s IPO could be valued at more than $100 billion, which would be a record on Wall Street after the IPO of Chinese e-commer giant Alibaba (NYSE:BABA) which raised around $25 billion in 2014, the biggest such IPO to date.

Uber’s Chief Executive Dara Khosrowshahi said last month the company is on track to launch its IPO next year.

Reporting by Rene Pastor, contactable on [email protected] 

Story by ProactiveInvestors