October 16, 2018 / 10:34 PM / a month ago

Uber boosts bond offering to $2 billion - Bloomberg

FILE PHOTO: Uber's logo is displayed on a mobile phone in London, Britain, September 14, 2018. REUTERS/Hannah Mckay/File Photo

(Reuters) - Ride-hailing firm Uber Technologies Inc increased the size of its debut bond offering to $2 billion (1.5 billion pounds) as orders for the private placement swelled, Bloomberg reported on Tuesday, citing people with knowledge of the sale.

The offering includes a $1.5 billion portion of eight-year bonds, up from an originally planned $1 billion. The rest $500 million has a five-year tenure, the report said here

Uber did not immediately respond to a request for comment.

Chief Executive Officer Dara Khosrowshahi has said the company is on track to go public next year, with media reports that U.S. banks bidding to run the offering are valuing Uber at $120 billion.

Reporting by Debroop Roy in Bengaluru; Editing by Sriraj Kalluvila

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