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Uber rides a leveraged loan repricing spree to slash debt costs
Lara Wieczezynski, Bloomberg News A commuter uses the Uber Technologies Inc. app on a smartphone in view of a black cab waiting to pick up passengers in this arranged photograph in London, U.K., on Monday, Nov. 25, 2019. , Jason Alden/Bloomberg
Uber Technologies Inc. has a US$1.5 billion leveraged loan due Friday, capitalizing on a market-sweeping repricing frenzy unleashed by low rates and robust investor demand.
The ride-sharing companyâs transaction adds to a swelling tide of companies looking to pare down how much they pay on existing loans. Over 100 repricing deals have come forward so far this year, according to data compiled by Bloomberg. Thatâs already almost as many repricings launched in the entire year of 2020, the data show.