Waymo Negotiates First Debt Deal With Pimco and Blackstone
Waymo is negotiating its first-ever debt financing, seeking more than $3 billion from lenders including Pacific Investment Management Co., Blackstone, and Sixth Street Partners. The notes would offer a spread above benchmark rates and carry no credit rating. Waymo funds itself mainly via equity, has scaled to 500,000+ weekly paid rides in 14 U.S. cities, and plans expansion to London, Tokyo, and Munich pending approvals.