Uber is turning to the riskiest part of the debt market to raise up to another $2 billion

Uber is raising up to $2 billion in the form of a leveraged loan, according to a new report from The Wall Street Journal’s Marueen Farrell, Matt Wirz, and Douglas MacMillan.

The ride-hailing company is tapping Barclay’s PLC and Morgan Stanley to sell a leveraged loan of up to $2 billion, according to The Journal.
The move comes just two weeks after the ride-hailing service raised $3.5 billion from a Saudi Arabian investment fund.
In the coming weeks, Uber is also said to be planning to tap institutional investors for a loan as well.

NOW WATCH: How to Snapchat from over 20,000 feet — as told by the Everest climbers that just did it

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.