Waymo Closes $5 Billion Debt Financing to Accelerate Expansion

Waymo closed a $5 billion term loan, its first debt financing, with PIMCO, Blackstone and Sixth Street as lead syndicated lenders and Goldman Sachs as sole lead bookrunner. The company said the capital will accelerate expansion of its fully autonomous ride-hailing service in the U.S. and internationally, after a $16 billion equity investment earlier this year and a service launch in its fifteenth U.S. city last month.