Uber is sounding out demand for its first euro-denominated bond, with investor calls scheduled for Sept. 7 and 8. A person briefed on the discussions, who asked not to be named, outlined the timing and structure.
If it proceeds, the offering would be split into five parts of fixed-rate debt with terms of 3, 6, 8, 12 and 20 years. Uber has appointed Goldman Sachs Group Inc., BNP Paribas SA, Bank of America Corp., Deutsche Bank AG and Morgan Stanley to run the books.
Uber would be joining a flood of U.S. issuers tapping Europe this year. Bloomberg data indicate year-to-date reverse yankee issuance is hovering near record highs, totaling nearly €125 billion ($145 billion) from corporates and financial institutions. Big-ticket prints from hyperscalers have helped fill the pipeline, including issues from Amazon.com Inc. and Alphabet Inc.
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The timing also tracks with Uber's expansion in Europe. Earlier in the year, Uber struck a $14.8 billion deal to acquire Delivery Hero SE, and the German company's board has since approved the bid. Uber also teamed up with Wayve, a British autonomous driving startup, to provide driverless rides in London through the Uber app. For everyday investors, more euro-denominated paper from familiar U.S. names means another place to watch for yields, currency exposure and diversification choices in the months ahead.
