7/102 sources · 2 publishersUpdated Oct 9, 00:24 UTC
Waymo upsizes private debt facility to $5 billion for expansion
Waymo, the autonomous‑vehicle unit of Alphabet, increased its inaugural private loan to $5 billion. The facility was funded by lenders PIMCO, Blackstone and Sixth Street and arranged by Goldman Sachs. The loan is priced at 5.25 percentage points above the benchmark rate. The proceeds will fund Waymo’s U.S. rollout and entry into Asian markets such as Singapore.
Why it matters
The new debt gives Waymo additional capital to scale its ride‑hailing operations, reducing reliance on equity financing. Investors may see the financing as a sign of confidence in the unit’s growth prospects and a potential impact on Alphabet’s balance sheet.
Key facts
- 1Waymo secured a private debt facility of $5 billion. investing.com
- 2Lenders include PIMCO, Blackstone and Sixth Street. investing.com
- 3Goldman Sachs acted as the loan arranger and sole lead bookrunner. marketscreener.com
- 4The loan is priced at 5.25 percentage points above the benchmark rate. investing.com
- 5Waymo previously raised $16 billion in equity at a $126 billion valuation earlier this year. investing.com
- 6Waymo recently launched operations in its 15th U.S. city and plans to expand to Singapore. marketscreener.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.