NEW YORK—Ride-hailing service Uber Technologies Inc is asking lenders to lower pricing on its $1.13 billion term loan due in 2023, sources said.
Strong demand for the company’s debt has kept bids for the loan above 100 in the secondary market since September 2017, according to LPC data. The loan had an average bid of 100.7 at the start of the week, which typically allows issuers to lower pricing as investors are more eager to hold onto the paper at a lower interest rate than allow it to be refinanced and handed over to someone else.
