Uber is in the process of raising between $1 billion and $2 billion in a leveraged loan, according to a report from The Wall Street Journal. The ridesharing company is said to have hired Morgan Stanley and Barclays to help sell the loan to institutional investors and reportedly hopes to price the loan with a yield of 4% to 4.5%.
Uber is fresh off a $3.5 billion funding from Saudi Arabia's Public Investment Fund, a financing that valued the company at $66.6 billion. If the new loan is successfully raised, it would bring the company's debt and equity funding to over $15 billion. Uber is currently the highest-valued private company in the world, worth about $6 billion more than second-place Ant Financial, a Chinese financial services provider.