Uber Eyes $2 Billion Investment-Grade Bond Sale

Uber Technologies Inc. is looking sell around $2 billion of US investment-grade bonds Monday, according to people familiar with the matter.

The ride-hailing firm is selling bonds in as many as two parts, including a security as long as 10 years. Initial price discussions for the 10-year note are in the area of 1.1 percentage point above similarly dated Treasuries, a person with knowledge of the deal said, asking not to be identified disclosing private details.

The sale represents Uber’s second as a blue-chip company after it tapped investors for $4 billion around a year ago. The proceeds from Monday’s sale are set to be used for general corporate purposes.

The company is among 17 selling investment-grade bonds on Monday, extending a busy period for issuance. Yields on highly rated bonds are sitting at their lowest level this year, and risk premiums remain historically tight, making it a favorable environment for borrowers.

Barclays Plc, Goldman Sachs Group Inc. and JPMorgan Chase & Co. are managing the bond sale for Uber. Representatives at those banks and at the technology firm didn’t immediately respond to requests for comment.

The debt carries expected ratings of Baa1 from Moody’s Ratings, BBB from S&P Global Ratings and BBB+ from Fitch Ratings.