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Grab upsizes debut term loan to $2 billion on strong investor demand : comparemela.com
Grab upsizes debut term loan to $2 billion on strong investor demand
Grab upsizes debut term loan to $2 billion on strong investor demand
Reuters
2/1/2021
By Anshuman Daga
© Reuters/Anshuman Daga
FILE PHOTO: FILE PHOTO: A Grab logo is pictured at the Money 20/20 Asia Fintech Trade Show in Singapore
By Anshuman Daga
SINGAPORE (Reuters) - Southeast Asian ride-hailing and food delivery giant Grab has raised $2 billion from its first term loan, in what it said was the largest institutional debt in Asia's technology sector, as the company expands its regional services.
The five-year senior secured loan was upsized from the initial $750 million after the company secured commitments from international institutional investors, Singapore-based Grab said in a statement on Monday.
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