SoftBank-Backed China's Uber Equivalent Raises $1.5B Debt Before Its IPO: Bloomberg

by Anusuya Lahiri, Benzinga Editor

April 9, 2021 2:59 PM | 1 min read |

SoftBank Group Corp SFTBY SFTBF-backed Chinese ride-hailing company, Didi Chuxing, also known as the Uber of China, raised $1.5 billion debt from banks as it continues to evaluate a potential listing at a possible $100 billion valuation, Bloomberg reports.
Didi inked a revolving loan facility with JPMorgan Chase, Morgan Stanley, Goldman Sachs Group, HSBC Holdings, Barclays, and Citigroup.
Southeast Asia’s ride-hailing giant Grab Holdings Inc also closed its upsized $2 billion senior secured term loan offering in Feb.
Grab is set for a public listing through Altimeter Capital’s SPAC (special purpose acquisition company) Altimeter Growth Corp AGC.
Didi is accelerating its efforts to consolidate its presence in autonomous driving.
Price action: SFTBY shares traded lower by 0.88% at $45.35 on the last check Friday.

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