Uber announces that it proposes to offer $1.2 bln aggregate principal amount of Convertible Senior Notes due 2028 (54.44)
- Uber intends to use a portion of the net proceeds from the notes offering to fund the cost of entering into the capped call transactions described below. Uber intends to use the remainder of the net proceeds from the notes offering to repay, redeem or repurchase outstanding indebtedness, including the redemption of the outstanding $1 bln aggregate principal amount of Uber's 7.500% senior notes due 2025, plus accrued and unpaid interest and any call premium thereon. This press release does not constitute a redemption notice for the 2025 Notes. If the initial purchasers of the notes exercise their option to purchase additional notes, Uber expects to enter into additional capped call transactions with the option counterparties and to use the remainder of such net proceeds for general corporate purposes, which may include repayments, redemptions or repurchases of additional outstanding indebtedness.
- In connection with the pricing of the notes, Uber expects to enter into privately negotiated capped call transactions relating to the notes with one or more of the initial purchasers of the notes or their respective affiliates and/or other financial institutions. The capped call transactions will cover, subject to anti-dilution adjustments, the number of shares of Uber's common stock that will initially underlie the notes