Uber bypasses banks in seeking US$1.25b loan

New York

INSIDE New York's St Regis Hotel on Friday, debt investors were given what's becoming a familiar pitch: a high-flying tech company with a charismatic leader but no real cash flow was asking them to lend it money.

This time it was Uber Technologies Inc, the ride-hailing company that's reshaped the taxi business around the globe. The company is seeking a US$1.25 billion loan and its new chief executive officer Dara Khosrowshahi was there, flanked by other senior management, to pitch investors both the deal - and the Uber dream.