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Uber bypasses banks in seeking US$1.25b loan

Company pitched deal to debt investors with Morgan Stanley serving only as adviser

Uber is pitching the seven-year loan to pay about 4.25 percentage points to 4.5 percentage points above the London interbank offered rate, according to one of the investor calls hosted by the company.

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...

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