Uber taps European debt markets for first-ever euro bond offering

Uber Technologies has hired banks to arrange its debut multi-tranche bond offering denominated in euros, marking a strategic pivot for a company that has historically raised capital almost exclusively in US dollars. The move comes after Uber secured investment-grade credit ratings in 2025, a milestone that unlocked access to cheaper borrowing costs and a far broader pool of institutional buyers. Why euros, why now In July 2026, the company entered into a €14.2 billion euro-denominated bridge credit agreement. That facility is directly linked to Uber’s voluntary public takeover offer for Delivery Hero SE, the publicly traded German food delivery platform. Bridge loans, by design, are temporary. They’re meant to be replaced by longer-term financing, which is exactly what a multi-tranche euro bond offering provides. A multi-tranche structure means Uber will issue bonds across several different maturities, allowing the company to spread out its repayment schedule and attract investors with varying time horizons. Specific details on tranche sizes, maturities, and pricing haven’t been disclosed yet, which is standard at this stage of the process when banks have only just been mandated. F...