Uber term loans better with earnings; Patagonia adjusts issue price; Sabre joins calendar

By Sara Rosenberg

New York, Aug. 2 – Uber Technologies Inc.’s term loans gained some ground in the secondary market on Tuesday after company reported better-than-expected second quarter results.

Second quarter numbers showed positive cash flow for the first time and revenue higher than analyst estimates, according to a trader.

The 2025 term loan was quoted at 98½ bid, 99¼ offered, up from 98 bid, 99 offered, and the 2027 term loan was quoted at 97 7/8 bid, 98 3/8 offered, up from 97½ bid, 98½ offered, the trader said.

For the quarter, free cash flow was $382 million, up $780 million year-over-year, and revenue was $8.073 billion, up 105% from $3.929 billion in the second quarter of 2021.

Meanwhile, on the new deal front, Patagonia Holdco (Lumen Latin America) widened the original issue discount on its term loan B, and Sabre GLBL Inc. emerged with plans to bring a term loan B to market.

© 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.