Uber Meets With Investors Ahead of Debut Five-Part Euro Bond

Uber Technologies Inc. has hired banks to hold calls with investors this week for a debut euro bond sale, the latest US tech firm to raise money in Europe.

The ride-hailing app is speaking to investors on Sept. 7 and 8 ahead of a possible five-part euro bond sale, according to a person familiar with the matter, who asked not to be identified.

The company has mandated Goldman Sachs Group Inc., BNP Paribas SA, Bank of America Corp., Deutsche Bank AG and Morgan Stanley as bookrunners for the offering. That will involve maturities of three-year, six-year, eight-year, 12-year and 20-year fixed-rate securities, the person said.

Uber is joining a record rush by American companies to raise euro debt so far this year. These so-called reverse yankee bond sales are running at record volumes year-to-date, with nearly €125 billion ($145 billion) sold by corporates and financials, according to data compiled by Bloomberg. Bumper deals by hyperscalers have been a driver of that supply, including from Amazon.com Inc. and Alphabet Inc.

The euro bond sale comes as Uber expands in Europe. Earlier this year, it agreed to purchase food delivery platform Delivery Hero SE for $14.8 billion, with the German company’s board recently voting to accept the offer. Uber has also partnered with Wayve — a British autonomous driving technology startup — to offer driverless ride services in London via its app.