Waymo Closes $5 Billion Term Loan, Its First Debt Financing, to Fund Expansion
Overview
Waymo has 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, according to a Waymo blog post.
The company describes the loan as an important step in its evolution into a scaling commercial enterprise.
Waymo says the debt complements a $16 billion equity investment earlier this year and gives it added financial flexibility to expand its fully autonomous ride-hailing service across the United States and internationally. The source for these details is Waymo's own announcement, so the characterization of the financing's purpose is the company's stated view.
Written by AI from the articles below · updated Oct 8, 7:52 PM ET
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- Waymo BlogWaymo Closes $5 Billion Debt Financing to Fund Expansion
AIWaymo 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.
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