Daily News: March 26, 2018

Morgan Stanley Advises Uber on $1.5B Term Loan B


According to Reuters, rideshare company Uber increased its self-arranged term loan B to $1.5 billion, despite the trouble its self-driving program has experienced this month.

Reuters said though Morgan Stanley had acted as administrative agent on Uber’s previous 2016 leveraged loan, it only played the role of financial advisor this time around.

Macquarie provided funding for some of the loan, while Cortland Capital Market Services served as administrative agent on the transaction, added Reuters.