Uber Technologies sells $2 billion of bonds as private placement

The private placement is the second time this year Uber has sold its own debt directly. In March, it put together a $1.5 billion loan, a deal investors also devoured voraciously

Uber Technologies has found a way to tap debt markets when burning through billions of dollars of cash: Keep financial details closely guarded and hire former Goldman Sachs bankers to oversee the deals.
 

The ride-hailing company this week sold $2 billion of bonds in what’s known as a private placement. The secretive approach, bypassing Wall Street’s broader bond market, allowed Uber to limit the financial information it disclosed —and then only to a small and select group of buyers. That kept prying eyes away from the books of a firm that is still losing money as it expands globally.
 

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