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Uber shakes up loan market

Published 03/08/2018, 11:12 AM
© Reuters.  Uber shakes up loan market
MS
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FAS
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FAZ
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XLF
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FXO
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IYF
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IYG
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SEF
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UYG
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FINU
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RWW
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VFH
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BTO
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FNCF
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  • Looking to raise $1.25B in the leveraged loan market, Uber is eschewing banking advisors, and instead making direct approaches to investors. Industry vets can't remember the last time an issuer sought to raise that large of an amount on its own.
  • Uber last went to the leveraged loan market in 2016, raising $1.15B, but relied on Morgan Stanley (NYSE:MS) to arrange. Is credit just flowing too freely at the moment, or are banks about to face another secular revenue threat?
  • ETFs: XLF, FAS, FAZ, VFH, UYG, FNCL, IYF, BTO, IYG, RYF, FXO, SEF, FINU, RWW, FINZ, JHMF, FAZZ, FNCF
  • Now read: Best And Worst Q1 2018: Financials ETFs And Mutual Funds


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