Uber bypasses banks in seeking US$1.25b loan
Company pitched deal to debt investors with Morgan Stanley serving only as adviser
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.
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