Uber Technologies (NYSE:UBER) has successfully entered into a new credit agreement, securing $5 billion in commitments for senior unsecured revolving loans.
This new facility, administered by Bank of America, replaces the company's previous Revolving Credit Agreement dated June 26, 2015, which was managed by Morgan Stanley Senior Funding, and terminated as of September 26, 2024.
The newly established Credit Agreement, which matures on September 26, 2029, allows Uber to borrow in U.S. Dollars or other approved currencies, adhering to customary conditions.
These funds are earmarked for general corporate purposes, providing the company with increased financial flexibility.
This strategic financial move aligns with Uber's long-term growth plans and reflects its strong position in the market, aiming to bolster its operational and strategic initiatives across the globe.