Uber Announces Pricing of $500 Million Senior Notes Offering
September 14 2020 - 4:30PM
Business Wire
Uber Technologies, Inc. (NYSE: UBER) today announced the pricing
of $500 million principal amount of 6.25% Senior Notes due 2028
(the “notes”). The notes are being offered only to persons
reasonably believed to be qualified institutional buyers pursuant
to Rule 144A under the Securities Act of 1933, as amended (the
“Securities Act”) and to non-U.S. persons in accordance with
Regulation S under the Securities Act. The sale of the notes is
expected to close on or about September 16, 2020, subject to the
satisfaction of customary closing conditions.
The notes will accrue interest payable semiannually in arrears
on January 15 and July 15 of each year, beginning on July 15, 2021,
at a rate of 6.25% per year. The notes will be guaranteed by one of
Uber’s subsidiaries, Rasier, LLC, as of the closing date, and
thereafter will be guaranteed by all of Uber’s domestic restricted
subsidiaries that are or become borrowers or guarantors under its
2016 senior secured term loan B facility. The notes and the
guarantees will be Uber’s and the guarantors’ general unsecured
senior obligations.
Uber intends to use the net proceeds from this offering, along
with cash on hand, to redeem all of the Company’s 7.50% Senior
Notes due 2023, of which $500 million aggregate principal amount
currently is outstanding. This press release does not constitute a
notice of redemption.
The notes have not been registered under the Securities Act or
any state securities laws, and unless so registered, may not be
offered or sold in the United States absent registration or an
applicable exemption from, or in a transaction not subject to, the
registration requirements of the Securities Act and other
applicable securities laws.
This press release is neither an offer to sell nor a
solicitation of an offer to buy any securities, nor shall it
constitute an offer, solicitation or sale of any securities in any
state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under
the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. These statements
include, but are not limited to, statements concerning the expected
closing of the offering and the anticipated use of the net proceeds
from the offering. Forward-looking statements include all
statements that are not historical facts. In some cases,
forward-looking statements can be identified by terms such as
“anticipates,” “believes,” “could,” “estimates,” “expects,”
“intends,” “may,” “plans,” “potential,” “will,” or similar
expressions and the negatives of those words. Forward-looking
statements involve substantial risks and uncertainties that may
cause actual results to differ materially from those that Uber
expects. These risks and uncertainties include market risks, trends
and conditions. These and other risks are more fully described in
Uber’s filings with the Securities and Exchange Commission,
including in the section titled “Risk Factors” in its Quarterly
Report on Form 10-Q for the quarter ended June 30, 2020. In light
of these risks, you should not place undue reliance on such
forward-looking statements. Forward-looking statements represent
Uber’s beliefs and assumptions only as of the date of this press
release. Uber disclaims any obligation to update forward-looking
statements.
About Uber
Uber’s mission is to create opportunity through movement. We
started in 2010 to solve a simple problem: how do you get access to
a ride at the touch of a button? More than 15 billion trips later,
we're building products to get people closer to where they want to
be. By changing how people, food, and things move through cities,
Uber is a platform that opens up the world to new
possibilities.
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version on businesswire.com: https://www.businesswire.com/news/home/20200914005850/en/
Investor Contact: investor@uber.com
Media Contact: press@uber.com
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