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, […]
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Alphabet’s Waymo secures $5 billion term loan to accelerate expansion
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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 lead bookrunner, 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)