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Waymo closes $5 billion term loan for autonomous ride-hailing expansion

The term loan is Waymo’s first debt financing and comes alongside a $16 billion equity investment earlier this year.

Reported · Written up by our desk · Industry & Deals

Waymo has closed a $5 billion term loan, the autonomous vehicle company’s first debt financing, according to Coverager.

PIMCO, Blackstone, and Sixth Street participated as lead syndicated lenders, with Goldman Sachs serving as the sole lead bookrunner, while other lenders included Capital Group, Loomis Sayles, T. Rowe Price, and Apollo, among others.

Coverager reports that Waymo said the new capital will accelerate expansion of its fully autonomous ride-hailing service across the United States and internationally.

Waymo previously raised $16 billion in equity earlier this year, and the company plans a phased commercial deployment in Germany before potentially extending to additional European markets.

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