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Uber secures $1.15 billion loan (Reuters)

July 11, 2016

Uber Technologies Inc. secured a $1.15 billion leveraged loan, the latest capital infusion for the well-financed ride-hailing company, Reuters reports. The money will be used to support Uber’s global expansion and operations, and invest in research and development and engineering. Turning to the leveraged loan market, which was previously exclusive to more established companies, allows Uber to take advantage of historically low interest rates while keeping venture capital backers happy by not further diluting their equity.