Uber has hired banks to hold investor calls on September 7 and 8 ahead of a possible debut euro bond sale.

The offering could include five fixed-rate tranches, with Goldman Sachs, BNP Paribas, Bank of America, Deutsche Bank, and Morgan Stanley as bookrunners.

The move follows ratings upgrades that gave Uber investment-grade status from both ratings agencies. S&P upgraded the company to BBB+, while Moody’s raised it to Baa2.

Reverse Yankee issuance has reached nearly 125 billion euros (US$145 billion) this year.

The European Central Bank said companies typically use these bonds when euro borrowing costs are lower than in their home currency, and demand from euro-area investors is strong.

Uber has announced an acquisition offer for Delivery Hero, the Berlin-based food delivery company. Delivery Hero’s board has backed the roughly US$14.8 billion bid.

🔗 Source: Bloomberg

Recent Uber developments