Waymo Secures 5 Billion Loan for Expansion
Alphabet autonomous unit Waymo has closed a five billion dollar term loan to fund its expanding ride hailing operations across the United States and globally. Major institutional lenders participated in the round led by Goldman Sachs.
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ALPHABET INC-CL A's Waymo secured a $5B term loan on Thursday morning, marking the autonomous vehicle unit's first debt financing. The capital will fund fleet expansion across the United States and international markets. The debt follows an equity raise earlier this year as driverless ride-hailing scales.
