Alphabet's Waymo secures $5 billion term loan to accelerate expansion

Alphabet's self-driving unit Waymo on Thursday said it has closed a $5 billion term loan, marking the company's first debt financing as it looks to expand its autonomous ride-hailing service across the US and the world.

Here are some details:

PIMCO, Blackstone and Sixth Street participated as lead syndicated lenders, while Capital Group, Loomis Sayles and T. Rowe Price were significant lenders, Waymo said


Goldman Sachs served as the sole lead bookrunner, it added

Waymo launched operations in its 15th US city last month and announced an expansion to Singapore

The company closed a $16 billion equity raise earlier this year at a valuation of $126 billion.