Uber gets $1.5 billion leveraged loan: Sources

Uber Technologies has secured a $1.15 billion leveraged loan, a person familiar with the matter said on Thursday, the latest capital infusion for the well-financed ride-hailing company.

Turning to the leveraged loan market, which was previously exclusive to more established companies, allows Uber to take advantage of historically low interest rates while keeping venture capital backers happy by not further diluting their equity.


The leveraged loan market saw volume of $783.3 billion in 2015, according to Thomson Reuters data, more than 13 times venture capital investments last year.

The money will be used to support Uber's global expansion and operations and invest in research and development and engineering, the person said.

Reuters reported last month that Uber had hired four banks to arrange a leveraged loan of at least $1 billion.