Anindito Mukherjee | Getty Images
Dara Khosrowshahi, chief executive officer of Uber, looks on following a 2018 event in brand-new Delhi, India.
Uber has raised $2 billion in a junk bond sale, according to a report, as the idea gears up for its 2019 stock market debut.
The ride-hailing firm raised $1.5 billion through the sale of eight-year notes using a yield of 8 percent — the idea had initially pitched $1 billion — as well as a different $500 million by selling all 5-year notes using a yield of 7.5 percent in a private placement led by Morgan Stanley, according to the Financial Times.
Uber was not immediately available when contacted by CNBC; nor was Morgan Stanley. The FT said Uber had confirmed the sale’s completion.
The embattled start-up is actually preparing for an initial public offering of which media reports have noted could value the idea at more than $100 billion — far more than its last reported valuation of $72 billion, which the idea notched after a $500 million capital injection coming from Japanese carmaker Toyota. the idea is actually currently one of the most valuable privately held firms within the earth.
The fundraising follows a separate report by the FT on Wednesday of which said Uber has mulled the sale of minority stakes in its struggling self-driving unit, known as the Advanced Technologies Group.
“Shared self-driving cars will ultimately make transportation safer, more efficient, as well as more affordable for riders on the Uber network,” the company said in an emailed statement to CNBC in response to of which report.
“Our team at the Advanced Technologies Group is actually wholly focused on building the safest self-driving technology out there, as well as we remain committed to supporting their efforts to make This kind of self-driving future a reality.”
The autonomous driving unit suffered a major setback earlier This kind of year after a fatal crash involving one of its driverless vehicles in Tempe, Arizona. the idea also ended a legal battle with Google’s self-driving car division Waymo in February, using a settlement of which saw Waymo take a 0.34 percent stake within the company worth $245 million at the time.
Uber’s Chief Executive Dara Khosrowshahi said last month the firm is actually on track to launch its IPO next year as well as has no plans to sell the Advanced Technologies Group.
You can read the full FT report here.