Waymo Closes $5 Billion Debt Financing to Fund Expansion

Waymo closed a $5 billion term loan, its first debt financing, with PIMCO, Blackstone, and Sixth Street as lead syndicated lenders and Goldman Sachs as sole lead bookrunner.

The debt complements a $16 billion equity investment earlier this year and gives the company added financial flexibility to expand its fully autonomous ride-hailing service across the United States and internationally.