Uber To Offer $1.2 Bln Of Convertible Senior Notes Due 2028

(RTTNews) - Uber Technologies Inc. (UBER) said that it has proposed to offer $1.2 billion aggregate principal amount of Convertible Senior Notes due 2028.

Uber also intends to grant the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $180.0 million aggregate principal amount of the notes.

Uber plans to use a portion of the net proceeds from the notes offering to fund the cost of entering into the capped call transactions.

Uber intends to use the remainder of the net proceeds from the notes offering to repay, redeem or repurchase outstanding indebtedness, including the redemption of the outstanding $1 billion aggregate principal amount of Uber's 7.500% senior notes due 2025, plus accrued and unpaid interest and any call premium thereon.