Waymo closes $5 billion debt financing

Autonomous vehicle technology company Waymo closed a $5 billion term loan, the company’s first debt financing. PIMCO, Blackstone, and Sixth Street participated as lead syndicated lenders, with Capital Group, Loomis Sayles, T. Rowe Price as significant lenders. Additional lenders included Apollo, Blue Owl, Diameter Capital Partners, Franklin Templeton, Fidelity Management & Research Company, HPS Investment Partners, and Oaktree. Goldman Sachs served as the sole lead bookrunner.

Earlier this year, Waymo closed a $16 billion equity investment to accelerate the expansion of the Waymo Driver. Last month, Waymo launched service in its fifteenth U.S. city and announced new international cities as commercial operations “continue to grow at a record pace.”

The capital will accelerate the continued expansion of Waymo’s fully autonomous ride-hailing service across the United States and internationally.