$UBER · Uber Technologies, Inc
Uber Technologies completed a registered public offering of €4.5 billion in senior unsecured notes on September 15, 2026. The five-tranche euro-denominated issuance spans maturities from 2029 (€750M at 3.750%) to 2046 (€750M at 5.250%), with intermediate tranches of €1B each at 4.125% (2032), 4.375% (2034), and 4.750% (2038). Net proceeds are earmarked for general corporate purposes.
- Total offering size: €4.5 billion across five tranches maturing 2029 through 2046.
- Coupons range from 3.750% (2029 notes) to 5.250% (2046 notes), all senior unsecured.
- Underwriters: Goldman Sachs, Morgan Stanley, Deutsche Bank, BofA Merrill Lynch, and BNP Paribas.
- Proceeds designated for general corporate purposes; no specific use disclosed.
- Notes issued under existing September 2024 base indenture with U.S. Bank Trust Company as trustee.
UBER down 0.79% since filing at $71.43 in after-hours, a modest move consistent with a routine debt issuance that was already priced via the September 9 prospectus supplement. The €4.5B offering adds leverage but at relatively low euro-denominated rates, and the market had days to absorb the news.
A €4.5B debt raise signals Uber's continued access to cheap European credit markets, but the "general corporate purposes" designation leaves the capital deployment story open-ended.
Large-cap tech companies continue to tap European debt markets to lock in lower euro-denominated rates. Uber's blended coupon across the €4.5B stack is well below equivalent USD yields, reflecting strong investment-grade access.
Forward-looking statements reference risks detailed in Uber's Q2 2026 10-Q, including uncertainties around the intended use of proceeds. No new risk factors disclosed in this filing.
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