Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers U > Headlines for Uber Technologies Inc. > News item |
Uber launches 2025 term loan repricing, 2023 term loan extension
By Sara Rosenberg
New York, Feb. 16 – Uber Technologies Inc. held a lender call at 1 p.m. ET on Tuesday to launch a $1,462,500,000 covenant-lite term loan B due April 4, 2025 and a $1,101,125,000 covenant-lite term loan B due February 2027, according to a market source.
Price talk on the term loans is Libor plus 350 basis points with a 0% Libor floor, the source said. The 2025 term loan is offered at par, and the 2027 term loan is talked with an original issue discount of 99.5 to 99.75.
The term loans have 101 soft call protection for six months and amortization of 1% per annum.
Morgan Stanley Senior Funding Inc. is the left lead arranger on the deal.
Commitments are due at noon ET on Friday, the source added.
Proceeds will be used to reprice an existing $1,462,500,000 term loan B due 2025 and extend the maturity of an existing $1,101,125,000 term loan B due 2023 to 2027.
As part of this transaction, agency on the 2025 term loan B will be transferred to Morgan Stanley from AlterDomus. Morgan Stanley will remain the agent on the 2027 term loan B.
Uber is a San Francisco-based online transportation network company.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.