Waymo closes a $5bn loan, its first debt deal, to fund robotaxi growth
The Waymo loan, first sought at more than $3bn, priced at 5.25 percentage points over the benchmark rate, Bloomberg reported. Ten more lenders joined, with Goldman Sachs as bookrunner.
Via TNW | Investors-funding
Credit: Waymo
Waymo has closed a $5bn term loan, the first time the Alphabet-owned robotaxi company has raised money through debt. Pimco, Blackstone and Sixth Street led the loan, Waymo said on Thursday.
The money will go into expanding Waymo’s driverless ride-hailing service across the US and abroad, according to the company.
“Our strong momentum has enabled us to complement our equity financing with debt, providing additional financial flexibility to strengthen our balance sheet,” Steve Fieler, Waymo’s chief financial officer…
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