Uber finalizes $1.13 billion term loan B at Libor plus 350 bps

By Sara Rosenberg

New York, June 8 – Uber Technologies Inc. set pricing on its $1,132,750,000 senior secured covenant-light term loan B due July 13, 2023 at Libor plus 350 basis points, the low end of the Libor plus 350 bps to 375 bps talk, according to a market source.

Unchanged on the loan was the 0% Libor floor, par issue price, 101 soft call protection for six months and amortization of 1% per annum.

Morgan Stanley Senior Funding Inc., Bank of America Merrill Lynch, Barclays, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Goldman Sachs Bank USA, HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, RBC Capital Markets and SunTrust Robinson Humphrey Inc. are the joint lead arrangers and bookrunners on the deal.

Proceeds will be used to reprice an existing term loan B due 2023.

Closing is expected during the week of June 11, the source added.

Uber is a San Francisco-based online transportation network company.

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