The Wall Street Journal: Uber completes $1.5 billion leveraged loan deal

Uber Technologies Inc. raised $1.5 billion from its second-ever high-yield loan issuance, highlighting the strength of the leveraged loan market, which has benefited from rising interest rates while other riskier assets have wobbled.

Uber completed the loan deal the same week one of its self-driving cars struck and killed a pedestrian in Arizona, causing the popular ride-sharing company to pull such cars from the road in the four cities where it has been testing them.

Uber also continues to lose money, a characteristic that would typically reduce the appeal of its debt to creditors, who generally care more about companies’ near-term abilities to generate cash and meet their loan obligations than their growth prospects.

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