Ride-hailing app Uber, this week sold $2 billion worth of bonds in what’s known as a private placement, according to a report in the FT.
The company was originally reported to of been offering up a total of $1.5 billion worth of bonds, but the demand was such, that they increased the available bonds to a staggering $2 billion.
The firm, which has been no stranger to controversy, was still able to raise $1.5 billion through the sale of eight-year notes with a yield of 8%, and an additional $500 million through the sale of five-year notes with a yield of 7.5%.
Uber is gearing up for an initial public offering which they hope to push through some time in 2019, with an evaluation reported at around $100 billion. The firm is currently one of the most valuable privately held firms in the world.