Uber Technologies has raised $1.15bn from a high-yield loan

 
James Nickerson
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Uber is on a roll in fundraising (Source: Getty)

Uber Technologies has raised over a billion dollars to add to its arsenal in its bid to extend its operations across the world.

The taxi-hailing app has finalised a $1.15bn (£889m) high-yield loan.

The unleveraged loan, which is Uber's first, takes the total amount raised in debt and equity to more than $15bn and helps its existing shareholder base avoid stock dilution.

Read more: Uber's Apple-backed rival Didi Chuxing just raised bilions

According to a source quoted in the Wall Street Journal, Uber’s loan was arranged by four banks, with Morgan Stanley leading and Barclays, Citigroup and Goldman Sachs participating, according to the person.

​Uber was originally looking for a loan of between $1bn and $2bn.

A month ago Uber raised $3.5bn from an investment from Saudi Arabia's sovereign wealth fund, which was the largest single loan ever made to a private company.

Meanwhile, also last month, Chinese rival Didi raised $7.3bn in total from several top names, including a previously disclosed $1bn from tech titan Apple and $600m from China Life.

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