Uber is negotiating a $2 billion credit line from a group of Wall Street banks, according to a source.
Uber, the car-booking company that has disrupted transportation markets worldwide by letting people book rides from their smartphones, had initially sought a $1 billion revolving loan before boosting the size as more banks sought to participate. Morgan Stanley is leading the deal, said the source.
Other banks involved are Bank of America, Barclays, Citigroup, Deutsche Bank, Goldman Sachs , HSBC, JPMorgan Chase and SunTrust Banks.
Nairi Hourdajian, a spokeswoman for Uber, declined to comment, as did Mary Claire Delaney, a spokeswoman for Morgan Stanley.
San Francisco-based Uber raised $1.6 billion in convertible debt at the beginning of the year from Goldman Sach’s wealth- management clients.
- Bloomberg
