Uber boosts junk bond sale in first debt raise since IPO

Uber Technologies Inc sold a larger-than-expected $1.2 billion of bonds rated in the lowest tier of junk in its first debt offering as a public company.

Strong demand for the notes, which mature in 2027, allowed Uber to raise more than the $750 million originally targeted, though investors held the line on price.

The ride-sharing company priced the bond at a yield of 7.5 per cent after receiving orders worth around $2 billion. It was the same level around which price discussions had started on Thursday, according to people familiar with the matter, who asked not to be identified because the details are private.